US Stocks Close Lower, Snapping Dow's 10-Day Winning Streak

USA indexes were set to open lower for the third straight day on Thursday as North Korea's threat to land a missile just short of the US territory of Guam added fuel to simmering tensions with the United States.

Secretary of State Rex Tillerson later insisted the USA isn't signalling it's about to mete out a military response despite threats from North Korea suggesting it could attack Guam, a US island territory in the Pacific.

"Much of the rally (in gold) is because of the increased safe-haven demand", said OCBC Bank analyst Barnabas Gan. He added that in China, the USA and South Korea, stocks that are showing the biggest declines since the rise of tensions between the US and North Korea are the companies that have risen most since June.

Trump was responding to North Korea's claim it was completing plans to fire four intermediate-range missiles over Japan to land near the U.S. Pacific territory of Guam. The Korean currency last traded at 1,137.70 won to the dollar.

Global benchmark Brent also fell 0.9 percent to $51.44, after Thursday's 1.5 percent drop.

Hernandez not surprised by Manchester United's struggles since Ferguson retired
Expectations have sky-rocked so quickly after the Hammers signed four experienced players including ex-Man United star Chicharito. Three of the last five Premier League games between these two clubs have ended in a draw, with one win apiece in this run.

All three major equity benchmarks stumbled firmly lower on Thursday, with the trifecta of indexes on track to fall in three consecutive sessions in unison for the first time since mid April amid a persistent war of words between the US and North Korea.

Instead, investors turned to assets that tend to benefit in times of geopolitical and financial stress. The EUR/JPY was down 0.54% to trade at 128.924 Yen while the GBP/JPY was down 0.58% to trade at 142.489 Yen.

Health-care equipment and services company Henry Schein declined amid a broader slide by health care stocks. Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10.

Meanwhile, U.S. wholesale prices (http://www.marketwatch.com/story/us-wholesale-inflation-fall-01-in-july-first-decline-in-almost-a-year-2017-08-10) declined in July for the first time in nearly a year, providing additional evidence of tepid inflation that is bedeviling the Federal Reserve.

On the earnings front, Hong Kong Exchanges and Clearing announced Wednesday that its second-quarter net profit climbed 12.5 percent to HK$1.8 billion ($230 million), higher than an average analyst forecast of HK$1.6 billion, Reuters said.

Guardiola says he's not moved by talk that Man City are favourites
We have to deal with that and handle that. "People say in my first press conference we are favourites. "In the next three or four years Manchester City will buy one, two, maybe three players".

Yields on core government debt fell.

The Topix index of all first-section issues edged down 0.04 percent, or 0.65 points, to 1,617.25 for a weekly loss of 0.87 percent.

"Dollar/yen has already gone below 110.00 yen, and at this stage we are likely to see the pair begin to bottom out as the market finds time to assess the situation", said Kyosuke Suzuki, director of forex at Societe Generale in Tokyo.

Meanwhile, gold stocks are bucking the downtrend, driving the NYSE Arca Gold Bugs Index up by 1.2%.

Oil prices rose before a report expected to show US crude stocks fell for a sixth week. Brent crude, used to price global oils, gained 56 cents to $52.70 in London.

N. Korea nerves push stocks down for third day
On the economic front, data is expected to show that US consumer prices likely rose in July after being unchanged the prior month. The S&P 500 fell 1 per cent, while the CBOE Volatility Index jumped 32 per cent to bring its three-day rise to 47 per cent.

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