Electronics

Tensions over North Korea weigh on stocks but boost gold

Tensions over North Korea weigh on stocks but boost gold

XM is a fully regulated next-generation financial services provider of online trading on currency exchange, commodities, equity indices, precious metals and energies, with services to clients from over 196 countries worldwide.Founded in 2009 by market experts with extensive knowledge of the global forex and capital markets and with the aim to ensure fair and reliable trading conditions for every client, XM has reached international recognition by virtue of its unbeatable execution of orders, spreads as low as zero pips on over 50 currency pairs, gold and silver, flexible leverage up to 888:1, and personalized customer engagement to foster clients' success.

Later on Friday, investors will look to U.S. July consumer price data for hints on the Federal Reserve's policy outlook and near-term moves in the dollar.

Trump's latest salvo to threats from North Korea, stoked investor demand for safe-haven gold, lifting gold prices to its biggest weekly gain in four months.

Emerging market stocks lost 1.27 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.47 per cent lower.

The Korean won also continued to skid, sliding 0.4 percent to 1,146.2, below its 200-day moving average.

Many markets have climbed to record or multi-year highs, leaving them vulnerable to a sell-off.

Late in the afternoon, Trump told reporters that his "fire and fury" warning to North Korea may not have been tough enough.

Gains among technology companies helped snap a three-day losing streak for US stocks Friday, though the market ended with its worst weekly loss since March.

The Dow Jones Industrial Average rose 44.33 points, or 0.2 percent, to 21,888.34, the S&P 500 gained 6.01 points, or 0.25 percent, to 2,444.22 and the Nasdaq Composite added 32.10 points, or 0.52 percent, to 6,248.97.

Pioneer Natural Resources Company (NYSE:PXD) Position Reduced by Huntington National Bank
Clifford Swan Investment Counsel Llc decreased International Bus Mach (IBM) stake by 4.67% reported in 2016Q4 SEC filing. PXD stock price lost -21.26% over the past year, yielding a negative weighted alpha of -31.2 percent.

Earlier in the week, Trump said the USA would unleash "fire and fury" on North Korea if it continued to threaten the U.S. The Fed, which raised its key interest rate in March and June, has signaled it plans a third rate hike before the end of this year.

Inflation has risen 1.7 percent over the past 12 months, suggesting that inflation pressures remain well under control.

If North Korea launches an attack that threatens the United States then China should stay neutral, but if the United States attacks first and tries to overthrow North Korea's government China will stop them, a Chinese state-run newspaper said on Friday. On Friday, fellow retailer J.C. Penney dropped 16% after its second-quarter loss exceeded expectations.

Benchmark 10-year notes last rose 7/32 in price to yield 2.1888 percent, from 2.211 percent late on Thursday. WTI was last trading at $49.74 a barrel while Brent was at $52.95.

Gold added $3.90 to settle at $1,294 an ounce.

In currencies, the yen rose 0.8 percent versus the greenback at 109.2 per dollar JPY= , the strongest level for the Japanese currency since mid June. The September copper contract was down two cents to US$2.91 a pound. The euro fell to $1.1728 from $1.1757.

In Europe, the Stoxx 600 Index fell 1%. Britain's FTSE 100 was down 1.1 percent. Trading was thinner than usual, with Japanese markets closed for a public holiday.

Shanghai posted its biggest one-day drop since December while Seoul stocks again ended deep in negative territory and the won continued its slide against the dollar.

The benchmark US yield on Thursday was just above 2.2 percent, at its lowest level since late June, as investors bought up Treasuries, a classic safe harbor.