Markets Right Now: Stocks open lower on Wall Street

Bruno Cirelli
Agosto 10, 2017

Eastern time. The Dow Jones industrial average slid 84 points, or 0.4 percent, to 22,000.

Sterling was last trading at $1.2998, up 0.07 percent on the day.

The continued weakness on Wall Street reflects geopolitical concerns amid a continued increase in tensions between the USA and North Korea.

This week, an official Japanese report and a classified US intelligence document, as reported by The Washington Post, combined to suggest that the North was closer to being able to strike the United States with a nuclear missile than previously believed. "The global economy is really on some firm footing", he said. The index then shot up to 11.37 between 3:10 p.m. and 3:36 p.m. ET.

The pan-European FTSEurofirst 300 index lost 0.77 percent and MSCI's gauge of stocks across the globe shed 0.37 percent.

Six of the S&P 500 sectors ended higher. The Russell 2000 index of smaller-company stocks gave up 4.02 points, or 0.3 percent, to 1,410.15.

BONDS: Bond prices rose. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 5.8 basis points at 2.225 percent.

Trump's words sparked a reply from Pyongyang, which in turn threatened to hit Guam with its Hwasong-12 missiles, which North Korea says can carry a heavy nuclear warhead.

San Fernando Valley Congressman Brad Sherman on Wednesday blasted President Donald Trump's threat this week that North Korea would "be met with fire and fury like the world has never seen before" if the Asian country continues to expand its nuclear program.

The VIX, a measure of how much volatility investors expect in stocks, jumped 10.4 percent.

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

Avis Budget Group slumped 9.9 percent after the vehicle rental company cut its guidance following a weak second quarter.

Shares in streaming giant Netflix fell 3.8% premarket.

LACKLUSTER QUARTER: Office Depot sank 24.5 percent after the office supply company's second-quarter results fell short of Wall Street's projections.

Extending a recent downtrend, oil service stocks have moved significantly lower over the course of the session.

Luxury handbag and clothing retailer Michael Kors soared 21 percent after reporting a big earnings beat.

The Nasdaq Composite was down 44.19 points, or 0.69%, at 6,326.27. The Nasdaq composite fell 45 points, or 0.7 percent, to 6,324. US crude rose 1.08 percent to $49.70 per barrel and Brent was last at $52.78, up 1.23 percent on the day. Brent crude, the worldwide standard, lost 23 cents to $52.14 a barrel in London. It was last up 1 percent at 1.133 per euro. On the Nasdaq, 1,846 issues fell and 953 advanced favoring decliners. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet.

The rally by gold stocks comes as the price of gold for December delivery is jumping USD17.10 to USD1,279.70 an ounce due to its appeal as a safe haven.

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