Futures lower as North Korea tensions linger

Futures lower as North Korea tensions linger

Futures lower as North Korea tensions linger

South Korean stocks ended lower Friday as foreign investors sold local stocks amid escalating tensions between North Korea and the United States.

Japan had said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programmes as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.

U.S. President Donald Trump on Thursday warned Pyongyang again, saying his previous promise to unleash "fire and fury" may not have been strong enough after North Korea responded with a threat to fire missiles over Japan to land near the U.S. Pacific territory of Guam.

"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY.

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The CBOE Volatility Index - a measure of investors' expectations for swings in the S&P 500 over the next 30 days - surged Thursday to its highest level since U.S. Election Day.

The last time the S&P closed down more than 1 percent was May 17 when it fell 1.8 percent. The Nasdaq added 39.68 points, or 0.6 percent, to 6,256.56.

On average, the S&P 500 falls 5% or more every 10 weeks and the index falls 10% every 33 weeks, according to data analyzed by AllianceBernstein going back to 1928. Macy's was down 9.7 percent after the company said its sales continued to decline in the second quarter. The yield on three-year Treasurys fell 2.0 basis points to 1.804 percent and the return on benchmark five-year government bonds shed 2.0 basis points to 2.004 percent.

"This inflation data for the month was not good".

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Russia's foreign minister says the risk of a military conflict between the US and North Korea is "very high". A North Korean missile salvo around Guam would present challenges for the United States and its allies.

Friday's report was the latest in a string of lackluster inflation readings, which have surprised many investors who had entered the year betting on an upsurge in economic growth and inflation. "Every August we have some reason to run up the alarm", Kenny said.

Traders took heart in a measure of US consumer prices that increased only slightly in July, pointing to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year. On Thursday, fellow newly public company Blue Apron Holdings lost 18% after the meal-kit maker reported rising costs amid increased competition.

Perrigo surged 17.6 percent after the drugmaker raised its full-year adjusted profit forecast.

NYSE declining issues outnumbered advancers 1.73-to-1; on Nasdaq, a 1.47-to-1 ratio favoured decliners.

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