Dow -0.93% S&P-1.45% Nasdaq -2.13% Russell -1.75%
US Market closed lower. Tech stocks led the retreat, sending the tech-heavy Nasdaq (-2.1%) and the S&P 500 (-1.5%) below their 50-day simple moving averages for the first time in a month. The Dow also finished solidly lower, dropping 0.9%. President Trump dialed up his warning to North Korea on Thursday afternoon, saying Tuesday's 'fire and fury' comment--in which the president promised action against North Korea if it continues to threaten the United States--may not have been tough enough. Pyongyang has threatened a strike on the U.S. territory of Guam, laying out a plan in detail, in response to Mr. Trump's Tuesday statement. Today's risk-off sentiment was distinguishable in the sector standings as countercyclical groups largely outperformed their cyclical peers. In total, ten of eleven sectors settled in negative territory with the rate-sensitive utilities group (+0.3%) being the lone advancer as a rally in the Treasury market left rates lower across the curve; the benchmark 10-yr yield dropped three basis points to 2.21%. CBOE Volatility Index (VIX 15.74, +4.63) surged 41.7% to a four-month high after drifting near an all-time low from mid-July to early August. US After Hours TTD +10%, ANW +9%, CWH / CAPR +5%, UPLD +4%, JWN +3% higher and SNAP -17%, NVDA -7% lower following earnings/guidance, CUDA +5% on S&P SmallCap 600 addition news. With Japan closed for holiday, equity markets across Asia have extended the declines seen in the prior session (Hang Seng -1.8%, Kospi -1.6%, Shanghai -1.6%), amid lingering worries related to North Korea, rise in VIX and the over 2.4% decline seen in the Nasdaq in NY trading. As such, technology stocks have underperformed (Tencent -3%, Hynix -4%), along with commodity related names (Rusal -4.5%). Bucking the trend, shares of Noble Group have risen over 10% following its H1 results. Chinese defense companies are also moving higher with North Korea in focus. Looking ahead, traders are focusing on the US July CPI figures which are due to be released later today.
Nikkei Closed Hang Seng -1.91% CSI -1.42% Shanghai -1.44% Shenzen -0.75%
Eur$ 1.1763 CNH 6.6913 CNY 6.6719 JPY 109.19 GBP 1.2986 CHF 0.9618 RUB 60.1944 WTI$ 48.24 -0.72%
S&P -0.03% EuroStoxx -0.29% FTSE -0.45% DAX -0.32% SMI -0.21%
Macro :
- WTI Crude Outlook Bullish, Analysts Say in Weekly Survey
- Trump Intensifies Warnings to North Korea on Missile Threat
- MiFID II Will Upend Investment Research. The Question Is, How?
Keep an eye on :
- ADP FP : ADP July Traffic at Paris Airports Rises 4.3%
- AKZA NA : Elliott Fails to Get Court Backing on Bid to Oust Akzo Chairman
- B5A GY : Bauer First Half Ebit EU25.7 Mln
- BMPS IM : Monte Paschi Capital at EU15.7b After Precautionary Recap
- DWNI GY : Deutsche Wohnen Raises 2017 Rental Growth Forecast
- IGY GY : Innogy 1H Profit Rises 16%, Beats Estimates; Confirms FY Outlook
- SKB GY : Koenig & Bauer Cut to Hold at Bankhaus Lampe
- NVDA US : Nvidia 2Q Adjusted EPS Beats Highest Estimate; Shares Rise 6.1%
- NVDA US : Nvidia Sinks on Slowing Second-Quarter Data Center Growth
- UG FP : France May Lift Incentives to Ditch Polluting Vehicles: Echos
- RNO FP : France May Lift Incentives to Ditch Polluting Vehicles: Echos
- RIO LN : Rio Has Made ‘Breakthrough Steps’ on Lithium Project Technology
- SBMO NA : SBM Confirms Settlement Contract With Insurer Group on Yme Claim
- SNAP US : Snap Falls to All-Time Low Post-Market After 2Q Miss, Snap CEO and Co-Founder not Planning to Sell Shares this Year
- TLG GY : TLG Immobilien Sees Full Year FFO I EU90 Mln To EU92 Mln
- VOW3 GY : Volkswagen Mulls U.K. Version of German Diesel Rebate Deal