Stocks open lower; Macy's and Blue Apron drop

Stocks open lower; Macy's and Blue Apron drop

Stocks open lower; Macy's and Blue Apron drop

United States markets closed lower on Tuesday's trade after President Donald Trump warned North Korea, saying that threats will be "met with fire and fury".

Energy stocks fell along with the price of crude oil.

The positive earnings helped lift USA stocks to record highs.

MEDIA MALAISE: Shares in several other big media companies were down. Utilities eked out a small gain.

The U.S. equity market is hovering near record levels and volume has been tepid following the onset of summer. "As long as it doesn't go beyond just a war of words, this is going to be short-lived".

The Standard & Poor's 500 index fell 10 points, or 0.4%, to 2,463. Nasdaq-100 futures slid 23 points, or 0.4%, to 5,895.

The Nasdaq lost 2.1% to 6,216.87. May 17 was the last time the three indexes had a bigger single-day decline. All the indexes are down for the week.

North Korea on Thursday outlined details for a missile strike near the U.S. territory of Guam, adding fuel to rising tensions with the United States.

Volatility gauges from the U.S. to Japan rose after president Donald Trump said in response to a Washington Post report on North Korea's nuclear capabilities that further threats from the country would be met with "fire and fury". Indeed, US equities sold off at the open and added to those losses this afternoon following President Trump's latest warning to North Korea. That's the biggest increase since May.

This week, the S&P 500 started on a stronger note by rising to fresh record high price levels.

But U.S. stocks regained some lost ground, despite Trump's comments Friday that U.S. weapons are "locked and loaded", ready to respond if North Korea acts "unwisely". I would expect the stock market to react negatively.

Office Depot tumbled 22.4 per cent after the office supplies retailer's quarterly results came in below estimates. Of those, 52 percent delivered earnings and revenue that beat financial analysts' forecasts, according to S&P Global Market Intelligence. They outweighed gains in health care stocks and elsewhere. Humana rose $4.74, or 1.9 percent, to $254.96.

In European markets, the French CAC 40 was down 0.3% and Frankfurt's DAX 30 shed 0.8%. It slid 80 cents, or 1.5 per cent, to close at $51.90 per barrel on Thursday.

Macy's slumped 4.3 percent after reporting its 10th straight decline in a key sales measure.

Stock movers: Shares of Snapchat parent Snap Inc.(SNAP) slid 14% in premarket trading. The DJIA was poised for a fall of 1.1%, making for its worst week since a 1.5% drop in the one ended March 24.

The major averages all closed in positive territory, although the tech-heavy Nasdaq outperformed its counterparts.

Computer hardware stocks rebounded following recent weakness, with the NYSE Arca Computer Hardware Index climbing by 1.4%.

The Labor Department said its producer price index for final demand edged down by 0.1 percent in July after inching up by 0.1 percent in June.

The dollar-denominated RTS index was down 1.5 percent at 1,013 points as of 0834 GMT, taking its year-to-date loss to 12 percent. Silver gained 20 cents, or 1.2 percent, to $17.07 an ounce. The September copper contract was down two cents to US$2.91 a pound.

CURRENCIES: The dollar fell to 109.96 yen from 110.48 yen late Tuesday. The euro rose to $1.1774 from $1.1752. South Korea's Kospi fell 0.5 percent. Economists had expected another 0.1 percent uptick.

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