Dow futures pull back after 5-day rally, with earnings in focus

U.S. stocks were poised for a day of mild losses on Thursday, with the Dow industrials on track to pull back from a five-day rally driven partly by optimism over the U.S. economy.

Traders appeared to be pausing for breath as they looked ahead to prominent earnings releases, including from Dow components Travelers and Microsoft, in what is shaping up to be an upbeat season.

Readings on weekly jobless claims and the Philly Fed index are on deck ahead of the open.

Futures for the Dow Jones Industrial Average fell 39 points, or 0.2%, to 25,122, while those for the S&P 500 index dropped 6.75 points, or 0.2%, to 2,809.25. Futures for the Nasdaq-100 index gave up 16 points, or 0.2%, to 7,388.50.

Source: Marketwatch

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European Stocks Cautious as Commodities, Tech Stocks Pull Higher

European stocks edged higher on Wednesday, underpinned by gains in tech and commodity-related stocks, although trading was cautious amid worries over Italian debt and global trade.

The pan-European STOXX 600 index was up 0.1 percent at 387.30 by 07:20 GMT, while Germany’s DAX .GDAXI advanced 0.2 percent and Britain’s FTSE rose 0.3 percent.

Investors have shifted focus from concerns over trade tariffs and Italian politics to the supportive backdrop of global growth for equities, which lifted shares in cyclical sectors.

Source : Reuters

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N. Korea Escalates Threat to Pull Out of Summit with US

North KoreaA?ai??i??ai???s sudden threat to pull out of the upcoming summit with the U.S. raises new doubts of whether a denuclearization deal is possible.

North Korean leader Kim Jong Un agreed to meet with U.S President Donald Trump in Singapore on June 12 to work out an agreement to end the NorthA?ai??i??ai???s nuclear program in exchange for security guarantees and an end to punishing international sanctions.

But on Wednesday North KoreaA?ai??i??ai???s Vice Foreign Minister Kim Kye Kwan released a statement through the state-run KCNA news agency that criticized A?ai??i??Ai??unbridled remarksA?ai??i??A? made specifically by the U.S. presidentA?ai??i??ai???s National Security Adviser John Bolton demanding that Pyongyang completely decommission its entire nuclear arsenal, along with its ballistic missile program and chemical weapons stockpile, before receiving any compensation or concessions.

He expressed A?ai??i??Ai??indignationA?ai??i??A? at the U.S uncompromising position and said North Korea might pull out of the Trump-Kim summit, unless the Trump administration acts with A?ai??i??Ai??sincerityA?ai??i??A? to improve relations through dialogue.

A?ai??i??Ai??If the United States is trying to drive us into a corner to force our unilateral nuclear abandonment, we will no longer be interested in such dialogue and cannot but reconsider our proceeding to the North Korea-U.S. summit,A?ai??i??A? the statement said.

The vice foreign minister also said it was A?ai??i??Ai??absolutely absurdA?ai??i??A? that Bolton would compare LibyaA?ai??i??ai???s experience dismantling its relatively rudimentary nuclear program as a model for dealing with the NorthA?ai??i??ai???s more advanced and expansive capabilities.

A?ai??i??ai???The vice ministerA?ai??i??ai???s remarks came shortly after the North abruptly canceled inter-Korean talks planned for Wednesday, citing ongoing joint military drills between South Korea and the U.S.

Source : VOA

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