Gold settles at 2-month high amid geopolitical tensions

Gold settles at 2-month high amid geopolitical tensions

At 10:57 a.m. ET (1457 GMT), the Dow Jones Industrial Average was up 54.38 points, or 0.25 percent, at 21,898.39, the S&P 500 was up 8.69 points, or 0.35 percent, at 2,446.90.

USA stocks closed higher on Friday as Wall Street clawed back from a sharp decline in the previous session but the market still posted a weekly loss on lingering geopolitical uncertainties.

Oil managed to end higher today, after the Energy Information Administration reported a bigger-than-expected decrease in domestic crude inventories last week.

The remarks followed a new report asserting that USA intelligence has assessed that Pyongyang has successfully produced a nuclear warhead that can fit inside its missiles.

The influential financial stocks were among the biggest drags on the index, with Royal Bank of Canada (RY.TO) down 1.0 per cent to $93.36, and Manulife Financial Corp (MFC.TO) falling 2.8 per cent to $24.93.

A statement attributed to North Korea's head of strategic forces, General Kim Rak Gyom, said the plan for the strike would be ready by the middle of the month and would await orders from leader Kim Jong-un.

Japan said on Tuesday it was possible that North Korea had already developed nuclear warheads and warned of an acute threat posed by its weapons programmes as Pyongyang's continues missile and nuclear tests in defiance of United Nations sanctions.

On Thursday, in response to North Korea's threat to fire missiles at American targets in the Pacific, President Trump said that if Pyongyang "does something in Guam, it will be an event the likes of which nobody has seen before - what will happen in North Korea". Seagate shares rose 69 cents to $32.24. On the Nasdaq, 1,787 issues fell and 564 advanced. The company also said sales at its established stores declined for the fourth-straight quarter.

Great Britain stuns US to win 4x4100m gold, Bolt injured
Talbot added: "2012 didn't go our way and we have been working hard since then". The eight-time Olympic gold medalist didn't remain on the ground for long.

"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. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33.

"I take exception to the President's comments because you gotta be able to do what you say you're gonna do.In other words, the old walk softly but carry a big stick, Teddy Roosevelt's saying, which I think is something that should've applied because all it's going to do is bring us closer to a serious confrontation". Broadcom gave up $5.72, or 2.3 percent, to $243.45.

The 30-year bond was last up 4/32 in price to yield 2.7871 per cent, from 2.794 per cent late on Thursday.

OIL: Benchmark U.S. crude gained 13 cents to $49.69 a barrel on the New York Mercantile Exchange.

However, bank stocks, including Goldman Sachs, Bank of America and Morgan Stanley, were down about 1 percent on the dimming prospects of another rate hike this year. The yield on the 10-year Treasury note fell to 2.23 percent from 2.26 percent late Tuesday.

On the currency front, the U.S. dollar is trading at 108.82 yen compared to the 109.20 yen it fetched at the close of NY trading on Thursday.

On Thursday the greenback had shed 0.8 per cent versus the yen, with the Japanese currency rallying broadly against most major currencies.

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