Wall St set to open flat after inflation data, N.Korea tensions

Judith Bessette
Agosto 13, 2017

The price of gold, a safe-haven asset, hit its highest levels in two months as North Korea and the United States exchanged more threats, with North Korea outlining detailed plans for a missile strike near the Pacific territory of Guam.

Keeping up his tough talk, U.S. President Donald Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face the consequences, and suggested that his earlier threat to unleash "fire and fury" on North Korea was too mild.

"Henkel's Beauty has underperformed peers for several years and given the results this morning, this trend looks set to continue - at least over the near-term", said Investec analyst Eddy Hargreaves in a note.

The dollar-denominated RTS index was down 1.5 percent at 1,013 points as of 0834 GMT, taking its year-to-date loss to 12 percent.

About 15 minutes into trading, the Dow Jones Industrial Average had dropped to 21,947.15, down 0.5 percent from Wednesday's close, falling back below the 22,000 mark it first broke through on August 2.

While gold, a safe-haven favorite, pared some gains it was last up 1.2 percent at around its highest since mid-June, while the Swiss franc and the Japanese yen also rose.

Care Capital Properties Inc
Mizuho reissued a "neutral" rating on shares of Care Capital Properties in a research report on Wednesday, June 28th. The company had revenue of $82.80 million during the quarter, compared to the consensus estimate of $83.32 million.

The price of gold, a universal safe haven asset, has risen almost 3 percent over the past four days, hovering at $1,290 per ounce, its highest since early June.

Retailers' results are being keenly watched by investors to gauge the companies' strategy to counter No. 1 online retailer Amazon.com's growth.

Shares of Macy's tumbled 9.5 percent and Kohl's 6.7 percent after the department store operators reported a drop in quarterly same-store sales that stoked concerns that their turnaround may still be a long way off.

"This inflation data for the month was not good". Wall Street was poised for a soft opening with S&P futures and Dow futures both down 0.2 percent. The pan-European benchmark on Wednesday fell 0.7% in a sell-off prompted by tensions between the United States and North Korea escalated.

The weaker-than-expected consumer price data in July, which pointed to benign inflation, could cause the Federal Reserve to hold off from raising rates again this year.

Declining issues outnumbered advancing ones on the NYSE by a 2.29-to-1 ratio; on Nasdaq, a 2.47-to-1 ratio favored decliners. On the Nasdaq, 2,303 issues fell and 567 advanced.

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