- REUTERS/China Daily
President Donald Trump’s comments were once again one of the biggest stories of the day. The president addressed the news of North Korea’s ability to miniaturize a nuclear warhead, saying any aggression would be met with “fire and fury.”
US markets were slightly off after the news. The S&P 500 fell 0.05%, maintaining its now 15-day streak of closing within 0.30% of its opening price.
The Dow slipped 0.17% and the Nasdaq fell 0.28%.
First up, the scoreboard:
- Dow: 22,048.70, -36.64, (-0.17%) S&P 500: 2,473.62, -1.30, (-0.05%) Nasdaq: 6352.33, -18.13, (-0.28%) US 10-year yield: 2.24%, -0.038 WTI crude oil: $49.54, +0.58, (+1.14%)
Markets around the world fell amid rising tensions between the US and North Korea. A key measure of volatility in the Korean Peninsula popped as much as 20% today. Traders are making bets that movie theaters are the latest victim of millennials’ love for cord-cutting. Young people and their streaming services have put a dent in the theater business. Even though the ETF market has exploded this year, there is no need to raise the alarm bells yet. One analyst says ETFs still have a ways to go before they’re a bubble. Bitcoin, ethereum, and bitcoin cash are all seeing their values skyrocket this year, which has given chip makers a boost. But that boost could be short lived, and weak fundamentals could drag down the stocks as soon as the cryptocurrency hype dies down. Trump has been publicly mulling over candidates for the next chairman of the Federal Reserve. Trump’s top economic adviser, Gary Cohn, is at the top of the list, but has no background in economic or monetary policy.