USA stocks snap 3-day losing streak in roller coaster week


Earnings news may also continue to attract attention, with Disney (DIS), Hertz Global (HTZ), Hostess Brands (TWNK), and Priceline (PCLN) among the companies releasing their quarterly results after the close of today's trading.

WALL STREET: Losses in health care and consumer-focused companies pulled US stocks lower, snapping a 10-day winning streak for the Dow Jones industrial average.

Stocks saw some strength during trading on Friday, regaining ground following the sell-off seen in the previous session.

Asian stock markets slumped Friday following overnight losses on Wall Street, as President Donald Trump's bellicose remarks on North Korea prompted investors to unload shares in companies that have been on the rise.

The Wells Fargo Investment Institute describes the market response, so far, as "tepid".

S&P 500 e-minis were up 1.5 points, or 0.06 percent, with 300,073 contracts traded. Before its slide, the Dow industrials climbed to nine consecutive records through Monday and topped 22000 for the first time August 2. Earlier, the average had been down more than 88 points.

The Nasdaq composite lost 13.31 points, or 0.2 percent, to 6,370.46.

The euro was 0.14 percent higher against the dollar.

USA stocks closed lower on Tuesday after a late afternoon selling spree as investors fled for safety after Trump's vow to respond aggressively to any North Korean threats.

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FIRE AND FURY: Keeping up his tough talk, Trump told reporters that North Korean leader Kim Jong Un's government should "get their act together" or face extraordinary trouble, and suggested his earlier threat to unleash "fire and fury" on North Korea was too mild. The comments follow reports that North Korea has mastered a crucial technology needed to strike the United States with a nuclear missile.

While gold, a safe-haven favorite, pared some gains, it was last up 1.2 percent, at around its highest since mid-June. But the moves were modest.

Gold futures for December delivery on the Comex division of the New York Mercantile Exchange rose $3.40, or 0.26%, to $1,293.37 a troy ounce.

"We believe continued sabre-rattling between the two nuclear powers could take gold prices higher still".

The comments came after reports said the US intelligence community has determined that North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles.

The strength on Wall Street was partly due to bargain hunting, with traders picking up stocks at reduced levels following the pullback seen over the past few sessions.

Outside of geopolitical concerns, disappointing company earnings and outlooks put traders in a selling mood. The stock lost $142.20 to $1,906.80.

The greenback also came under pressure after New York Federal Reserve President William Dudley cautioned it would "take some time" for USA inflation to reach the bank's two percent target. The company also said sales at its established stores declined for the fourth straight quarter.

Bond prices rose. The yield on the 10-year Treasury note slipped to 2.19 percent from 2.20 percent late Thursday.