In a 1st, S&P 500 closes above 2500

In a 1st, S&P 500 closes above 2500

In a 1st, S&P 500 closes above 2500

Wall Street was flat as investors took a breather after pushing the S & P 500 to a fresh record high during the previous session, amid a tad of renewed speculation in markets regarding the risk of new provocations from Pyongyang following the latest round of sanction from the UN Security Council.

First, the data. Headline CPI rose 0.4% month-over-month in August, beating forecasts for a 0.3% increase, while Core CPI, which excludes food and energy, rose 0.2%, meeting expectations.

The S&P 500 also notched record highs, advancing 0.2% to finish at 2,500.23.

Shares of SPDR Dow Jones Industrial Average ETF (NYSE DIA) traded up 0.26% during midday trading on Friday, hitting $222.45. Oil ended near $50 a barrel to cap its best week since July.

UN Secretary-General condemns DPRK ballistic missile launch
The Trump administration therefore plans to act on its own to restrict the flow of crude oil to North Korea from China, the North's main source of oil.

U.S. Treasury yields have also surged this week.

Geopolitical issues remained in view after North Korea fired a missile over Japan (http://www.marketwatch.com/story/un-security-council-to-hold-emergency-meeting-after-latest-north-korean-missile-test-2017-09-14) for the second time in less than a month, defying rising worldwide efforts to force it to abandon course.

Volume was unusually high Friday because of a quarterly event known as quadruple witching, when futures and options contracts on indexes and individual stocks expire.

The Bloomberg Dollar Spot Index fell 0.2 percent.The euro climbed 0.2 percent to $1.1941.The British pound gained 1.3 percent to $1.3568, the strongest in nearly 15 months. It rose 1.6 percent for the week.

China can't stop India from developing Northeast, says Amit Shah
The Bhartiya Janata Party on Saturday responded to China's objection to Japan showing interest in investment in Northeast. Reports say that the UNCLOS was mentioned atleast four time in the 2016 joint statement between the two countries.

Stocks wobbled in early trading after the Commerce Department said retail sales slipped in August and the Federal Reserve said industrial production dropped last month, mostly because of Hurricane Harvey. The biggest contributions to the gains were made by stocks in Boeing, 3M and Apple. Hong Kong's Hang Seng fell 0.7 percent to 27,571.42 and the Shanghai Composite in mainland China shed 0.6 percent to 3,353.11.

"Disappointing retail sales growth suggests 3Q consumer spending growth will slow markedly from 2Q's 3.3% rate; however, we still think other components can provide offsetting support within the GDP report", said James Knightley, the chief global economist at ING.

Wholesale gasoline rose 3 cents to $1.66 a gallon.

The Nasdaq closed 0.3 percent higher at 6,448.47.

Jutanugarn in pole position for maiden win
Kiwi world No.8 Ko is three shots off the lead in a share of fourth place with one round remaining at the Evian Championship in France.

S&P 500 measures the performance of 500 widely held common stocks of large-cap USA companies.

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