US shares turn lower into close
North Korea/ US tensions mount
Apple shares reach new high
US shares turned lower on Tuesday afternoon as traders got jittery as tensions mounted between North Korea and the USA.
President Trump reportedly said further threats from the country to the US would be met with “fire and fury”.
The UN recently approved further economic sanctions against North Korea.
The Dow Jones is down 33 at 22,085, the S&P 500 lost over 6 at 2,474 and the Nasdaq index lost 15.16v at 6,368.
In Toronto, the TSX shed 35 at 15,222.
US crude lost 0.57% to go to $49.11 a barrel at the time of writing.
Michael Kors (NYSE:KORS) remained top riser on S&P 500, adding an very impressive 22% to $45.41 after it posted its quarterly results.
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US stocks were on the way up at mid-session as tech titan Apple (NASDAQ:AAPL) earlier made an all time high.
It comes after the FTSE 100 in London closed within spitting distance of an all time record close.
On Wall Street, the Dow Jones is up almost ten points at 22,026, the S&P 500 is up 2.07 at 2,482, while the Nasdaq is up over 18 points at 6,402.
In Toronto, the TSX is down over six points, at 15,251. Apple shares earlier went over the $160 mark and are now up 1.53% to $161.24.
There was no specific news out on the stock but it could just be part of th general market rise.
However, there were some big losers today too. Bioamber Inc (NASDAQ:BIOA) shares tanked over 46% to $0.53 after reported a $11 million offering of shares and warrants.
Depomed Inc (NASDAQ: DEPO) lost over 30% to $6.44 after the firm reported downbeat second quarter earnings and lowered its full year 2017 sales guidance.
READ THE LONDON CLOSE - FTSE 100 closes up but misses record high
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US stocks started in mixed session on Tuesday after futures had indicated a lower start, and ten record run appears to be ending.
It came after the Dow Jones notched up last night, its ninth record close in a row, up around 25 at 2,118.
Today, the Dow is up over seven at 22,125, while the Nadsaq dropped 6.29 at 6,377 and the broader S&P 500 dropped 1.09 at 2,479.
It seems traders are now less excitable as earnings season is drawing to a close. In London, FTSE 100 isn't moving much - nor are European equities.
The main focus this week looks to be Friday's US inflatuion data, which should throw further light on the Federal Reserve's strategy for the rest of the year.
In companies, fashion firm Michael Kors (NYSE:KOSRS) is flying , up almost 19% to $44.26 as its results were far better than analysts' had expected, despite profit tumbling.
It shares were the top of the S&P 500 leader board. Ralph Lauren (NYSE:RL) was also higher, up over 9% to $85.19 as its first quarter results appeared to impress.
Michael Kors lifts revenue forecast, shares soar https://t.co/FDURI3aALu pic.twitter.com/AM0tQTztTL
— Reuters Top News (@Reuters) 8 August 2017