Flight-to-Safety Buying Drives Gold to a Two-month High

Traders work on the floor of the NYSE in New York

Traders work on the floor of the NYSE in New York

Global stock markets ended their worst week in months amid rising tensions between the USA and North Korea, though US stock indexes steadied on Friday to close up slightly.

The Dow Jones Industrial Average .DJI rose 14.31 points, or 0.07 percent, to end at 21,858.32, the S&P 500 .SPX gained 3.11 points, or 0.13 percent, to 2,441.32 and the Nasdaq Composite .IXIC added 39.68 points, or 0.64 percent, to 6,256.56.

The yield on the 10-year Treasury bond fell to 2.2% and is approaching its lowest level of the year. The Japanese markets were closed for a holiday.

The latest tensions began after US President Donald Trump on Tuesday warned North Korea that it would face "fire and fury" if it threatened the United States. The figure showed a decline of 1.1% versus expectations for a 0.5% drop and reversing from a 1.9% gain in May.

Chinese bluechips lost 0.75 percent, while Hong Kong's Hang Seng was 1.6 percent lower.

A weekday Weekend Update
Many credit the segment as the inspiration to Comedy Central's The Daily Show and other political satire news shows. Some fans expressed hopes that Scaramucci would be played by Bill Hader , who left SNL in 2013 after eight seasons.

In overseas trading, stock markets across the Asia-Pacific region saw continued weakness during trading on Friday. Germany's DAX fell 1.1 per cent, while the CAC 40 in France lost 0.6 per cent. Britain's FTSE 100 sank 1.4 per cent.

A small rise in a measure of US consumer prices pointed to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year, which would be favorable to equity investors.

European stocks fell Thursday, with caution still lingering as tension between United States and North Korea escalated, and as German consumer goods company Henkel AG & Co. was among the companies whose shares pulled the market toward a second consecutive decline, MarketWatch reports.

The news drove investors out of risky assets and into safe-haven assets like gold, U.S. Treasurys and the Japanese Yen.

The bigger surprise is that the cost to protect against declines in the kiwi against the US dollar for one month shot up to the most expensive levels since April.

Duluth FD: Father, Daughter Pulled From Lake Superior
The Duluth Fire Department had issued a Red Flag Warning earlier in the day for a high chance for strong rip currents. The firefighters floated in the water next to their upside-down boat, trying to let the waves push them toward shore.

The data comes amid tepid inflation that has remained below the Fed's 2% target, despite low unemployment.

Equity markets had traded with a soft tone in Europe and there was a sharp increase in selling pressure in NY with the S&P 500 index declining by close to 1.0%.

Copper traded at $2.912, down 0.25%, while natural gas tacked on 0.23% to $2.991. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189%. The dollar was down 1.2 percent at 0.9627 Swiss francs, while an ounce of gold was 1 percent higher at $1,275.

Dudley also cautioned that "it's going to take some time" for inflation to rise to the central bank's 2 percent target even as he offered a generally positive outlook for the US economy, job market and price pressures. It was on course for a weekly rise of about 5%, the biggest such gain since July 2016.

Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in USA crude inventories, leaving prices volatile.

Freeman agrees to extension
Freeman rolled up 3,175 yards from scrimmage over the past two seasons, second in the league to teammate Julio Jones . McAllister's prime spanned from 2002-2006, where he rushed for over 1,000 yards in four out of five seasons.

USA crude rose 0.41 per cent to US$48.79 per barrel and Brent was last at US$52.01, up 0.21 per cent.

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