US Stock Futures Firm Up as North Korea Keeps Its Cool

U.S. stock futures indicated a slightly firmer start on Friday, with some calm returning to the market after a week of geopolitical jitters, as North Korea made a restrained response to the U.S. withdrawal from a planned summit.

Attention is expected to return to the U.S. economy, as Federal Reserve Chairman Jerome Powell and other central bank officials are in line to speak. Updates on durable goods orders and consumer sentiment are also on deck.

Markets will be shut on Monday in observance of the Memorial Day holiday, which may keep trading volumes lighter than normal.

Dow Jones Industrial Average futures rose 25 points, or 0.1%, to 24,826, while S&P 500 Index futures added 1.9 points to 2,729.50. Nasdaq-100 climbed 14.5 points, or 0.2%, to 6,972.

On Thursday, the Dow finished down 0.3% to 24,811.75, shaking off a loss of as much as 280.91 points earlier. The S&P 500 fell 0.2%, and the Nasdaq Composite Index closed less than 0.1% lower at 7,424.43.

As of Thursday, major indexes were looking at mostly modest weekly gains 0.4% for the Dow, 0.6% for the S&P 500 and close to 1% for the Nasdaq Composite.

Source : Marketwatch

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Trump Calls Off Upcoming North Korea Summit

President Donald Trump has canceled his planned June 12 summit in Singapore with North Korean leader Kim Jong Un.

“I was very much looking forward to being there with you (in Singapore),” Trump said in a letter to Kim released by the White House. “Sadly, based on the tremendous anger and open hostility displayed in your most recent statement, I feel it is inappropriate at time time to have this long planned meeting.”

North Korea had threatened to pull out of the unprecedented summit after U.S. officials called for a Libya model approach, which involved the countryA?a��a�?s total nuclear dismantlement before any concessions were granted. Pyongyang has called for a gradual process that links early concessions to incremental denuclearization measures.

Trump in his letter, responded in kind, referencing U.S. nuclear capabilities A?a��A�so massive and powerful that I pray to God they will never have to be used.A?a��A?

Trump, in his letter, also left the door open, telling Kim that if he changes his mind “having to do with this most important summit, please do not hesitate to call me or write.”

Source: Marketwatch

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European stocks end lower after Trump cancels North Korea meeting

European stocks finished lower Thursday after U.S. President Donald Trump pulled out of what would have been a historic meeting with North Korea, citing A?a��A�open hostilityA?a��A? from the nationA?a��a�?s officials.

Deutsche Bank shares slumped after calls for the chairman to resign.

The Stoxx Europe 600 index lost 0.5% to close at 390.54, after logging its worst one-day percentage fall since March 22. The pan-European benchmark on Wednesday ended down 1.1% as traders fretted about weak eurozone data and the renewed prospect of a China-U.S. trade war.

ItalyA?a��a�?s FTSE MIB index fell 0.7% to 22,749.08, erasing an earlier advance of as much as 1% which had put it among EuropeA?a��a�?s best performing indexes on Thursday.

GermanyA?a��a�?s DAX 30 index gave up 0.9% to 12,855.09, while FranceA?a��a�?s CAC 40 index PX1, -0.31% dropped 0.3% to 5,548.45.

The U.K.A?a��a�?s FTSE 100 index dropped 0.9% to 7,716.74. The blue-chip benchmark turned lower as the pound rallied on the back of a better-than-expected retail sales reading for April. Sterling bought $ 1.3374, compared with $ 1.3348 late Wednesday in New York.

Source: Marketwatch

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