Wednesday, 22 November 2017
Latest news
Main » USA stock market jittery over worries about North Korea's missiles, Hurricane Irma

USA stock market jittery over worries about North Korea's missiles, Hurricane Irma

06 September 2017

Energy companies rose along with the price of crude oil.

Gasoline prices fell Tuesday on news refineries were starting to come back online in Texas in the aftermath of Hurricane Harvey. The S&P 500 lost 6.69 points, or 0.27 percent, to 2,469.86.

Panasonic was down 0.58 percent at 1,440 yen, while market heavyweight and Uniqlo casual clothing firm Fast Retailing was down 1.53 percent at 30,870 yen. Drinks manufacturer C&C rose almost 1 per cent to €3.05 following the news that it is to invest in the United Kingdom pub group Admiral, in a deal that will give the Irish drinks manufacturer "significant economic" benefits in the British market. United States ambassador to the UN Nikki Haley said North Korea's relentless actions show that its leader Kim Jong Un is "begging for war", and the time had come for the council to adopt the strongest diplomatic measures. Shares of United Technologies slumped 5%.

Fiat Chrysler fell 1.3 per cent after chief executive Sergio Marchionne said the carmaker had not received an offer for the company nor was it working on any "big deal".

S&P500 mini futures maintained small losses following Pyongyang's nuclear test and last stood at 2,469, 0.2 percent below their official close on Friday. The company announced that it plans to launch a ride-sharing rival to Uber in London later this year.

BONDS: Bond prices rose.

In the currency market, the yen, which usually gains on risk aversion due to Japan's net creditor nation status, was little change at 109.69 yen to the dollar, not far from Monday's high of 109.22 yen.

Benchmark 10-year Treasury yields extended their declines overnight, falling to a near 10-month low of 2.07% as traders piled cash into government bond positions and added further to the move after U.S. Federal Reserve rate-setter Lael Brainard said inflation was "well below" the central bank's target.

U.S. West Texas Intermediate (WTI) crude futures ticked up 0.2 percent to trade at $47.38 per barrel as U.S. demand recovered after being hit by reduced refinery activity since Harvey made landfall on August 25. The FTSE 100's gains stood at 0.3%, while the DAX and CAC 40 stood higher by 0.8% and 0.4% respectively. Hong Kong's Hang Seng was flat on the day. The pan-European Stoxx 600, a broader gauge of European equities' performance, was 0.4% up with the blue-chip Stoxx 50 up 0.5%.

USA stock market jittery over worries about North Korea's missiles, Hurricane Irma