Gold Surges On Producer Prices, North Korea

Weaker-than-expected July consumer price data led investors to bet that benign inflation would keep the U.S. Federal Reserve from raising rates again this year.

After a dip of as much as 0.52 percent earlier in the day, investors appeared to take some comfort in Tillerson's comments, said Richard Steinberg, managing director at HighTower Advisors in NY.

The CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the USA presidential election on Thursday, but was down 1.22 points at 14.82 points on Friday. The S&P 500 declined 1.45% to end at 2,438.21, with information technology and financials leading the way lower.

The tentative gains "suggest that the headline shock value pertaining to the US-North Korea standoff is starting to dissipate, which is to say actual action will now speak much louder than words", said Briefing.com analyst Patrick O'Hare.

European markets open lower on Friday
On the Nasdaq , 1,462 issues rose and 1,227 fell. "The pot is on the stove boiling but no inflation steam is coming out". South Koreans watch a television displaying news broadcasts reporting on North Korea at a station in Seoul today.

US stocks have risen week after week this year - with the S&P up more than 9% - in extremely low volatility, as strong corporate earnings and an improving global economy offset disappointment that US President Donald Trump's promises to lower corporate taxes and implement a massive infrastructure spending have so far failed to see the light of day.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada down 1.5 percent to C$92.88, and Manulife Financial Corp falling 4.7 per cent to C$24.43, its largest drop since early August previous year. He added that in China, the US and South Korea, stocks that are showing the biggest declines since the rise of tensions between the USA and North Korea are the companies that have risen most since June.

South Korean stocks ended slightly lower Thursday as foreign investors offloaded local stocks on profit-taking amid escalating tensions over North Korea's provocations.

Almost $1 trillion has been wiped out from global equity markets since Trump's vow on Tuesday to unleash "fire and fury" on North Korea if it threatens the United States.

Mover to Watch: Bank of America Corporation (BAC)
The medical research company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.07. Finally, Diligent Investors LLC purchased a new stake in Bank of America Corporation during the fourth quarter worth $632,000.

Emerging market stocks lost 1.27 per cent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.47 per cent lower. In Australia, the S&P/ASX 200 was down 1.13%.

Gold rose 0.6% to $1,268 (£976) an ounce and platinum gained 0.6% to reach $972.95 an ounce, having hit its highest since April at $979. The Dow Jones industrial average slid 36.64 points, or 0.2 percent, to 22,048.70. The Japanese yen strengthened 0.08 percent versus the greenback at 110.00 per dollar.

Disney shares were down 4.8 percent as investors were skeptical of its plan to launch streaming services rather than rely on Netflix.

The Russian dollar-traded index RTS was down 1.49 percent, and ruble-traded MICEX fell 1.29 percent by midday.

Rep. Engel Compares Trump To Kim Jong Un
Ellison, a Minnesota Democrat, later retracted that but still said he thinks Trump is "irresponsible". Ellison's comment about Trump and Kim drew quick fire from the Republican National Committee.

On Thursday, Germany's DAX 30 lost 0.2% to 12,124.23, and France's CAC 40 index fell 0.3% to 5,132.45.

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