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Wall St opens higher after tepid inflation data

14 August 2017

U.S. President Donald Trump said on Thursday afternoon that his earlier warnings to North Korea may not have been tough enough.

Canada's main stock index turned slightly higher in early trade on Wednesday, as gains for gold miners and energy companies with higher commodity prices offset falls among financials.

Some of the top performing gold and gold mining stocks also rose on the back of the heightened US and North Korean tensions. Technology companies were leading a broad slide in US stocks in early trading Thursday, Aug. 10, 2017, as investors pored over the latest batch of corporate earnings reports.

"I do think I expect inflation to also start to move higher in the medium term but probably not get all the way back to 2-percent on a year-over-year basis, because, remember, we've had these very weak inflation readings for a number of month", Dudley said.

Corporate Earnings Chart August 9
Data courtesy of Trade-Alert

In Europe, the pan-continental STOXX 600 index lost 0.8 per cent, with falls deepening after reports a vehicle had rammed a group of soldiers in Paris, injuring six.

Elsewhere, French conglomerate Vivendi saw its stock fall 2.1 percent in the morning hours, while Italy's Mediaset dropped only 0.3 percent. The comments follow reports that the North has mastered a technology needed to strike the United States with a nuclear missile.

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 three major indexes closed out the week in positive territory following yesterday's lows.

To that end, gold prices shot up to near $1,300 an ounce - their highest level in several months. You have encouraged us in our mission - to provide quality news and watchdog journalism. On the Nasdaq, 1,462 issues rose and 1,227 fell. Gold and bond prices were headed higher.

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The biggest winners were high-flying companies like Apple, Amazon and Microsoft, all of which won at least one percent after falling with the broader market in the prior sessions.

Gold added $16.70, or 1.3 percent, to settle at $1,279.30 an ounce.

On Friday basic resource stocks dropped 2.6 per cent to a month low as metal prices fell.

The Dow slid as declines in Apple and Goldman Sachs, down 2.3% and 1.7% respectively, outweighed gains in McDonald's and Coca-Cola, up 1.4% and 0.5% respectively. The u.s. central bank, one of whose tasks is to contain the price rise, does not therefore appear to be obliged to accelerate the pace of the slow tightening of monetary that it has committed.

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The dollar index was trading 0.2 percent up at 93.73. It announced earnings of 92 cents per share on revenue of $2.23bn.

The dollar slipped to 109.04 yen from 109.26 late Thursday.

Japan is the world's biggest creditor nation and there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.

US crude rose 0.41 percent to $48.79 per barrel and Brent was last at $52.01, up 0.21 percent.

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The yield on the benchmark 10-year Treasury note settled at 2.191%, its lowest close since June 26, compared with 2.211% Thursday and 2.269% last Friday.

Wall St opens higher after tepid inflation data