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23-Sep2017

US markets end flat on geopolitical concerns

The US markets ended the lackluster session near their neutral lines on Friday on geopolitical concerns amid an escalating war of words between North Korean leader Kim Jong Un and President Donald Trump. Kim described Trump's threat to 'totally destroy' North Korea as mentally deranged behavior. Kim also called Trump's remarks to the United Nations General Assembly 'rude nonsense' and claimed he was not frightened by the president's threat. The back-and-forth between Trump and Kim came as North Korean Foreign Minister Ri Yong Ho has said his country may consider testing a hydrogen bomb in the Pacific Ocean. Nonetheless, overall trading activity was somewhat subdued amid a relatively quiet day on the U.S. economic front.

Traders remained on sidelines ahead of some important macro-economic data slated to be released in next week, starting with, Dallas Fed Mfg Survey and Chicago Fed National Activity Index on September 25, Redbook, S&P Corelogic Case-Shiller HPI, New Home Sales and Consumer Confidence on September 26, Durable Goods Orders, Pending Home Sales Index on September 27, GDP, International Trade in Goods, Jobless Claims, Fed Balance Sheet and Money Supply on September 28 and finally Chicago PMI, Consumer Sentiment and Baker-Hughes Rig Count on September 29.

Nasdaq rose 4.23 points or 0.0.07 percent to 6,426.92 and the S&P 500 was up by 71.62 points or 0.0.6 percent to 2,502.22, while the Dow Jones Industrial Average was down by 9.64 points or 0.04 percent to 22,349.59.


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