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Friday, August 11, 2017       20:51 WIB
US stocks edge higher after three-day retreat



New York, Aug 11, 2017 (AFP)
Wall Street stocks edged higher early Friday, as investors waded back into the market following a three-day sell-off sparked by US tensions with North Korea.

The deepest declines this week came Thursday after President Donald Trump doubled down on threats against North Korea over its nuclear program.

Trump on Friday said the US military is "locked and loaded" in the event of a misstep by Pyongyang. But stocks rose anyway.

About 15 minutes into trading, the Dow Jones Industrial Average stood at 21,868.95, up 0.1 percent.

The broad-based S&P 500 added 0.1 percent at 2,440.81, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 6,228.19.

Friday's move "suggests that the headline shock value pertaining to the US-North Korea standoff is starting to dissipate, which is to say actual action will now speak much louder than words," said Briefing.com analyst Patrick O'Hare.

J.C. Penney became the latest retailer to suffer the consequences of weak earnings, diving 14 percent after reporting a $62 million loss in the second quarter.

Snapchat parent Snap slumped 12.9 percent after the company reported a hefty quarterly loss and user growth that missed Wall Street expectations.

 





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