Markets Right Now: Stocks open lower

Paterniano Del Favero
Agosto 10, 2017

Dow Jones Industrial Average futures fell 55 points, or 0.3%, to 21,963, while S&P 500 futures dropped 9.50 points, or 0.4%, to 2,463.50.

At the close of trading in NY, the Dow Jones Industrial Average was down 33.08 points, or 0.15%, to 22,085.34. Earlier, the average had been down more than 88 points. The Nasdaq composite lost 18 points, or 0.3 percent, to 6,352.

THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and US indices have retraced from record levels over the last two days". The stock was the biggest decliner in the S&P 500, losing $166.50 to $1,882.50. However, strength in the Health Care and Materials sectors limited the losses. The Russell 2000 index of smaller-company stocks gave up 4.02 points, or 0.3 percent, to 1,410.15.

Tensions with North Korea appear to have finally shaken the confidence of U.S. investors, after the S&P 500 opened 0.8% lower, threatening to end its 15-day streak with a closing streak of more than 0.3%, a 90-year record. Aside from the geopolitical drama, investors are digesting a rise in the U.K.'s trade deficit in June, as well as disappointing housing data for the region in July.

"Right now the market is viewing it as a lot of saber-rattling and a lot of smoke, but not much fire", said Darrell Cronk, president of Wells Fargo Investment Institute.

Wall Street fell, giving up earlier gains that had sent the Dow to a fresh record high, after US President Donald Trump issued a warning to North Korea, illustrating intensifying tension between the two nations. The comments follow reports that North Korea has mastered a crucial technology needed to strike the United States with a nuclear missile. Prices for bonds and gold headed higher. But the moves were modest.

Manulife Financial Corp was down 1.1 percent to C$25.64. The yield on the 10-year Treasury note fell to 2.23 percent from 2.26 percent late Tuesday.

THE QUOTE: While the tough talk about the potential for war is scary, investors have heard it many times before.

Like other US territories, Guam has a sometimes complicated relationship with the USA mainland but many across the island say despite the threats and concerns they feel reassured and protected by the military - especially in times of tense, geopolitical sparring.

Options traders gear up for Snap's second earnings report as a public company.

Data released overnight by RICS (Royal Institute of Chartered Surveyors) was weighing on housebuilding stocks, with the figures suggesting that declines are starting to spread beyond London as political uncertainty and tax changes weigh on the top end of the market.

MOUSE HOUSE: Disney dropped 4.9 percent a day after the media giant reported a weak quarter and said it would pull its movies from Netflix and start two of its own video streaming services.

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