Economy

USA stock futures shoot higher as North Korea tensions ebb

USA stock futures shoot higher as North Korea tensions ebb”

Stock prices in London are called to open higher on Monday, after North Korea celebrated its Foundation Day over the weekend peacefully, while in early United Kingdom company news, Associated British Foods said full-year profit is expected to be "well ahead" of the year before. There was also relief among investors that a national holiday passed in North Korea without that country escalating tensions with the U.S.

The FTSE 100 index of large-caps was up 0.5%, or 34.34 points, at 7,411.94 early Monday. Eastern time. That put the index on track for a record high.

At 9:37 a.m. ET (1337 GMT), the Dow Jones Industrial Average.DJI was up 172.84 points, or 0.79 percent, at 21,970.63 and the S&P 500.SPX was up 17.64 points, or 0.72 percent, at 2,479.07. The Nasdaq Composite Index rallied 1.1% at 6,432, and ended within range of its all-time closing high.

Killer Hurricane Irma meanwhile struck Florida with less force than feared. It's caused severe flooding and knocked out power to millions, but the storm weakened shortly before it came ashore.

In other sectors, AstraZeneca's shares were among the biggest gainers on the FTSE, rising 2.1 percent after reassuring results from two of its lung cancer drugs.

Seoul's main index added 0.8%, while MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.4%. Goldman Sachs' (GS.N) 1.8 percent rise led the Dow higher, followed by insurer Travelers (TRV.N), which rose 2.94 percent.

In the mining space, BHP Billiton and Rio Tinto are losing more than 2 percent each, while Fortescue Metals is declining nearly 3 percent as base metal prices tumbled.

LAGGARDS: Home improvement retailers falling.

The euro eased to US$1.2020, having hit a top of US$1.2092 on Friday amid speculation the European Central Bank was closer to starting a wind-back of its stimulus programme.

Orange juice prices, which surged in early September, gave up some of their recent gains.

Despite its rebound on Monday, outlook for the dollar remained bearish as speculators ramped up short bets on the greenback to a almost 5-year high, according to data from Commodity Futures Trading Commission. The U.S. 10-year Treasury TMUBMUSD10Y, +2.45% note rose to a yield of 2.10%, which helped to lift the dollar.

Meanwhile, speculative investment in gold increased as hedge funds and money managers raised their net long position in COMEX gold for the eighth week in a row to the highest in almost a year. High-dividend stocks like phone and utility companies didn't do as well as the rest of the market.

Apple (AAPL.O) rose 1.5 percent to $161.07, giving the biggest boost to the S&P and the Nasdaq, a day ahead of the expected launch of its new iPhone.

However, it bounced back on Monday, surging above 108 yen from Friday's 10-month lows. The euro dipped to $1.2016 from $1.2038.

OVERSEAS: Germany's DAX gained 1.3 percent and the French CAC 40 rose 1.2 percent.

The previous week saw a sell-off in risk assets sparked by Kim Jong-Un s nuclear test, in turn benefiting haven assets such as the yen and gold, which retreated Monday alongside a pick-up for the dollar. South Korea's Kospi advanced 0.7 percent and Hong Kong's Hang Seng added 1 percent.



Like this

Latest


12 September 2017
Ascena Retail Group, Inc. (ASNA) Downgraded by BidaskClub
Finally, Public Employees Retirement System of OH boosted its position in Ascena Retail Group by 36.6% during the first quarter. Alexandria Ltd Liability, a Virginia-based fund reported 12 shares. 22,492 are held by Amer Interest Group Inc Inc. (NYSE:MLM).

12 September 2017
Stock Stepping Up to a Recent High: McDonald's Corporation (NYSE:MCD)
The stock of McDonald's Corporation (NYSE:MCD) has "Outperform" rating given on Thursday, May 25 by Bernstein. Winch Advisory Services Llc decreased Mcdonalds Corp Com (MCD) stake by 91.98% reported in 2016Q4 SEC filing.

12 September 2017
Super Eagles arrive Ghana for WAFU Cup clash against Sierra Leone
He said that it was time for Nigerians to stamp their feet on the ground as giants in African football and West Africa in particular.

12 September 2017
Axa Trims Position in Zoetis Inc. (ZTS)
The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.06. Finally, Pettee Investors Inc. acquired a new stake in Zoetis during the second quarter worth about $209,000.

12 September 2017
PlayerUnknown teases upcoming fog effect for PUBG
It has been a while since the last patch for the wildly popular PlayerUnknown's Battlegrounds was last released. They are accompanied by the explanation that the fog effect will be introduced with the next update .

12 September 2017
Vehicle sales see 12 per cent growth in August
Vans too posted a growth of 11.30% and sold 16,860 units in comparison with 15,148 units in the same month past year . Market leader Maruti Suzuki India recorded a 26% rise, while second-ranked Hyundai Motor posted a 9% increase.

12 September 2017
Shares Bounding to a New High Mark: Banco Bradesco SA (NYSE:BBD)
As of the end of the quarter Tower Research Capital LLC (trc) had disposed of 211 shares trimming its position 35.2%. The value of the investment in BBD went from $53,000 to $28,000,000 a change of 52,730.2% since the last quarter.

12 September 2017
What time does Saints - Vikings, Chargers - Broncos Monday night game start?
That might start with limiting Peterson and fellow running backs Mark Imgram and rookie Alvin Kamara, who impressed all preseason. This time around, the National Football League saved its best for last. "I don't really desire them to", Brees said in July.

12 September 2017
Neo-Nazi arrests: United Kingdom soldiers charged with terror offences
Three British Army soldiers have been charged with terror offences including being members of a banned neo-Nazi organisation. Alexander Deakin, 22, from Birmingham, is the third man charged for the connection to National Action.

12 September 2017
The CONSOL Energy Inc. (CNX) Position Held by Mraz Amerine & Associates Inc
Transocean Ltd (NYSE:RIG) was reduced too. 151.10 million shares or 5.89% more from 142.70 million shares in 2016Q3 were reported. This buyback authorization authorizes the oil and gas producer to repurchase shares of its stock through open market purchases.



Recommended