Thursday August 10th


North Korea concerns set the stage on Wall Street, stock futures fall

U.S. stock index futures pointed to a lower open on Thursday, as investors kept their focus on rising tensions between North Korea and the U.S. Dow Jones industrial average futures fell 51 points, while S&P 500 and Nasdaq 100 futures declined 9.25 points and 36 points, respectively. Earlier this week, President Donald Trump said that North Korea would face "fire and fury" if it continued to threaten the States, however North Korea has dismissed these warnings by the U.S. incumbent as a "load of nonsense", according to Reuters. The comments raised concerns about further escalation of tensions between the two nations and pushed U.S. stocks from record levels. On the data front, weekly jobless claims came in at 244,000, slightly above the expected 240,000. The U.S. producer price index, meanwhile, fell 0.1 percent in July. Economists polled by Reuters expected an increase of 0.1 percent. Wall Street also braced for more earnings, as News Corp., Nordstrom, and Snap were set to report after the bell. Kohl's, Macy's, Blue Apron were among the companies that reported before the open. Looking to commodities, oil prices were posting solid gains as official data revealed that U.S. crude inventories had fallen more than the market had anticipated, according to Reuters. At 8:35 a.m. ET, U.S. crude hovered around $50.08 per barrel, while Brent stood around $53.49. In Europe, stocks were trading lower, while Asia markets finished trade mostly in negative territory. South Korea's Kospi fell 0.38 percent, or 8.92 points, to end at 2359.47, extending the last session's more than 1 percent loss, but off earlier lows. Japan's Nikkei 225 ended down 0.05 percent, or 8.97 points, at 19,729.74. Hong Kong's Hang Seng Index dropped 1.13 percent, or 313.09 points, to end at 27,444.00 while mainland markets gave up early gains. The Shanghai Composite fell 0.42 percent, or 13.77 points, to 3261.80, and the Shenzhen Composite shed 0.69 percent, or 12.96 points, to end at 1872.60.