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The Markets
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Proactive UK has moved.
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
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The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

US stocks higher after Fed minutes; North Korea missile tensions rise

Wall Street had a holiday yesterday for Independence day

US stocks were holding their own going into the close as the Fed June minutes were released and oil price crashed again.

The Dow Jones is up around two points at 21,481, while the S&P 500 added over three at 2,432.

The tech heavy Nasdaq was making up ground more convincingly with the index up 36 at 6,146.

US crude - West Texas Intermediate is down over 4% to $45.04 a barrel.

The US dollar is flat against the Euro and up 0.08% against the British pound.

Last month's vote to lift interest rates another quarter percentage point, a third hike in six months, signaled the Fed's confidence on the economy but minutes suggested that members are divided about the outlook for US inflation, which remains weak.

JUST IN: U.S. Ambassador to the U.N. Haley says 'we will go our own path' on North Korea if other countries don't approve new sanctions

— Reuters Top News (@Reuters) 5 July 2017

In the wider world, the US military has reportedly told the American people that it could defend America from any missile threat from North Korea.

It comes after a test of an intercontinental ballistic missile (ICBM), which experts reckon could have reached Alaska.

In stocks, Tesla (NASDAQ:TSLA) is down almost 7% as second quarter stats released Monday didn't cheer the market.

Payment processor Vantiv (NYSE:VNTV) will buy the UK's Worldpay for about $10bn, it was reported. Vantiv shares shed 2.7% to $60.82.

OPEN...

Wall Street shares opened lower after the 4th July holiday with energy stocks lagging as traders await Fed minutes.

The Dow Jones is down 54 at 21,424, while the Nasdaq shed almost four points at 6,106.

The broader based S&P 500 index is down 4.61 at 2,424.

US crude is down over 2% at $46.09 a barrel, which is weighing on the majors,

Chevron Corp (NYSE:CVX) is down 1.13% to $105.11. ExxonMobil (NYSE:XOM) is down 1.35 to $81.03.

In Toronto, the S&P/TSX composite index is down over 67 at 15,063.

In company news, Tesla (NADSAQ:TSLA ), Elon Musk's electric car baby, saw shares plunge over 5% as its second quarter deliveries statistics did not impress the market.

Oracle Corporation (NYSE:ORCL), the tech giant added 0.95% to $49.83 as KeyBanc upgraded the share to 'overweight' from 'sectorweight'.

Movado Group Inc (NYSE:MOV) added over 2% to $25.25 as the watchmaker reported that it has acquired Olivia Burton for around £60 million.

This comes from the acquisition of JLB Brands Ltd, the owner of the Olivia Burton brand, one of the United Kingdom’s fastest growing fashion watch and jewelry brands.

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