FTSE 100 takes cover from war of words over South Korea

Traders work on the floor of the New York Stock Exchange

Stocks open lower, slip from record highs as Wall Street awaits Disney earnings

July's 0.1 percent increase in consumer prices suggests that the Federal Reserve may be less likely to raise interest rates next month.

London's FTSE 100 dipped by about 90 points, or more than 1%, in morning trading on Friday, adding to a slump of more than 100 points the day before and taking it to its lowest level since May.

"The slight bias to the upside (in stocks) is a result of the CPI number". Weakness in the Materials and Telecom Services sectors weighed on the market. Trading was thinner than usual, with Japanese markets closed for a public holiday.

"There's not a great incentive to buy big", said Lerner of SunTrust Advisory. The September copper contract was down two cents to $2.91 a pound. According to the data released by the Bureau of Labor Statistics on Tuesday, the U.S. JOLTs Job Openings rose to 6.163 million in June-higher than May's reading of 5.702 million and the market's forecast of 5.775 million.

The dollar index.DXY, which tracks the greenback against six rival currencies, was down 0.17 percent to 93.391.

MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.48 percent lower. Apple is still up 35% for 2017 and hovers near a record high.

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

Nervous investors drove shares lower earlier in the week, after President Trump declared Tuesday that the US would react with "fire and fury" to further nuclear provocations from North Korea.

Drake, Future accused of negligence in $25M lawsuit stemming from rape
Drake and Future are being sued by a woman who was reportedly raped by at one of their concerts back in 2016 by a venue employee. Drake and Future have been hit with a $25 million lawsuit by a female fan who attended their Summer Sixteen tour a year ago .

Gunfight breaks out in Shopian village
A gun battle broke out between the security forces and the terrorists in Jammu and Kashmir's Shopian area on Saturday evening. Cordon-and-search operations have begun in the village.

Game of Thrones S07E04: Fans turn on Bronn after dragon attack
This article contains spoilers of Game Of Thrones . "My postman won't speak to me because I shot the dragon", he said. Second, " The Spoils of War " may be the best episode ever when it comes to (spoiler alert) epic battle scenes.

Japan is the world's biggest creditor country and there is an assumption investors there will repatriate funds in a crisis.

Sterling touched a three-week low against the dollar as a mixed bag of output and trade data did little to alter investors' downbeat view of an economy struggling to meet Bank of England targets.

Disappointing US inflation and jobs data have not helped the dollar.

"If the data continues to come in on the softer side, the market might start to price the Fed staying on hold this year", said Sireen Harajli, FX strategist at Mizuho in NY.

Equity markets around the world had fallen as the war of words between the USA and North Korea escalated, with the Dow recording its second negative close, although its 0.2 per cent loss was smaller than in other bourses. It was last up 1.2pc at 1.1305 per euro.

Baker Avenue's Lip said the US market was higher due to "bargain hunters", but "there's more room for the market to come down". That is significant because yields fall when bond prices rise.

US gold futures for December delivery rose 0.2 percent to $1,291.80 per ounce.

Gold has risen to its highest level in nearly two months, while the Swiss franc has powered against the U.S. dollar and seen its biggest one-day gain against the euro in more than two and a half years. Brent crude, used to price global oils, added 26 cents to $52.96. Northern Star Resources was up 3 per cent, while Evolution Mining rose 2 per cent, Newcrest Mining gained 2.3 per cent and Resolute Mining rose 2.1 per cent. Westgold Resources was the biggest gainer, rising 6.6 per cent.

Latest News