Stocks climb as concerns ease over North Korea, Irma

NZ dollar falls as greenback recovers with weakening Irma

NZ dollar falls as greenback recovers with weakening Irma

Wall Street opened sharply higher on Monday on relief that Irma weakened to a tropical storm and North Korea did not conduct a nuclear test over the weekend as feared.

The dollar edged higher on Monday, after posting its biggest weekly drop in two months, as a revival in interest in riskier assets prompted some investors to cut short bets against the greenback before USA inflation data this week. Still, nearly 7 million were without power and millions were displaced in what may go down as one of the worst storms in Florida's history.

In Europe, Germany's DAX was up 0.6 percent at 12,550 while the CAC 40 in France was 0.7 percent higher at 5,213.

North Korea fears ease: Global stock markets are rising and gold prices are falling as investors shrug off continued tensions over North Korea.

The blue-chip Dow futures gained 120 points, or 0.55%, at 6:45AM ET (10:45GMT), the S&P 500 futures rose 13 points, or 0.53%, while the tech-heavy Nasdaq 100 futures traded up 45 points, or 0.76%. The VIX "fear gauge" saw its biggest decline in nearly three weeks as financial and technology shares led gains. So did travel companies.

STORMY WEATHER: Investors were waiting for damage assessments after Hurricane Irma battered Florida's coastline, knocking out power to millions and flooding the financial district in downtown Miami and toppling two construction cranes there.

HCI Group jumped $5.28, or 17.2 percent, to $36.05 while Heritage Insurance gained $2.14, or 22.8 percent, to $11.51. The pound's rebound from its post-Brexit vote lows is potentially negative news, however, for British firms that have big business interests outside the U.K. And the money they make overseas will be worth less when it is brought back to the U.K. That helps explain why the FTSE 100 index of leading British firms, which is made up of main worldwide companies like BP and Burberry, was a laggard. London added 0.5 percent.

- Russia's ruble posted the biggest advance in emerging markets, climbing 0.3 percent.

The pan-European FTSEurofirst 300 index added 1.05 percent to close at 1,491.19 and MSCI's gauge of global stocks gained 0.87 percent. The euro was down 0.3 percent at $1.1998 while the dollar rose 0.7 percent to 108.62 yen.

"Receding fear over Hurricane Irma and North Korea was a key factor behind the dollar's bounce".

European equities then took the baton, with both Frankfurt and Paris posting gains of more than 1.0 percent.

"This is what happens when the market sells off in the face of what is really an awfully good fundamental environment", said Jim Paulsen, chief investment strategist for the Leuthold Group.

The Chinese yuan pulled further away from Friday's 21-month high against the dollar of 6.5432, after China's central bank on Monday lifted measures put in place to support the yuan when it came under selling pressure.

The 10-year U.S. Treasury note last fell 21/32 in price to yield 2.134 percent, up from 2.061 percent late on Friday.

Meanwhile, oil prices showed mixed trade on Monday as investors watched developments surrounding Irma and eyed talks over the possibility of extending the production cut agreement.

1 percent, to $158.08 and Lowe's declined 87 cents, or 1.1 percent, to $77.69.

- Gold sank 1.1 percent to settle at $1,335.70 an ounce for the biggest tumble in two months.

Recommended News

  • Conte to shuffle his pack for Qarabag

    Conte to shuffle his pack for Qarabag

    I accept we must play better but I'm still satisfied with the performance given the quality of the opponent. I didn't like it, the players relaxed too much'.
    North Korea threatens U.S.  'suffering' if harsh sanctions are imposed

    North Korea threatens U.S. 'suffering' if harsh sanctions are imposed

    The ambassador warned that Pyongyang would respond to United States sanctions "with countermeasures by the North Korean design". Thornton noted that last month the US rolled out new sanctions targeting Russian and Chinese individuals and entities.
    EasyJet launches cheap long-haul flights

    EasyJet launches cheap long-haul flights

    Easyjet will also sell stand-alone tickets on behalf of partner airlines, allowing customers to book flights without connections. EasyJet claims this is the first time a low-priced European carrier has formed such a partnership.
  • One dead in Hollywood nursing home without power, police say

    One dead in Hollywood nursing home without power, police say

    While the causes of their deaths were not immediately clear, the entire facility was evacuated due to the cooling issues. Paramedics and fire-rescue crews were called to the Rehabilitation Center at Hollywood Hills shortly after 7:30 a.m.
    Kildare Students To Receive Junior Cert Results Today

    Kildare Students To Receive Junior Cert Results Today

    They will know very shortly now and parents, teachers and the students themselves are bracing themselves for the results. Students can also access their results through the on-line examination results service on from 4pm today.
    See photos and videos from 9/11 on 16th anniversary of terrorist attacks

    See photos and videos from 9/11 on 16th anniversary of terrorist attacks

    The memorial is outside Shanksville, Pennsylvania , where Flight 93 crashed with the loss of its 40 passengers and crew. Events meant to mark the occasion across the Midlands were canceled though, due to Tropical Storm Irma.
  • Cleanup begins as Irma moves out of Florida

    Cleanup begins as Irma moves out of Florida

    The previous record was held by Typhoon Haiyan, also called Super Typhoon Yolanda, which hit the Philippines in 2013. FEMA was continuing to rescue people stranded by flooding around Jacksonville, in the state's northeast, he said.
    Internet falls in love with Florida police officers in viral posts

    Internet falls in love with Florida police officers in viral posts

    Hamill have also enjoyed knowing how millions of women are going insane over their husbands", the post continued, adding, "3". There were so many inquiries on the men's relationship statuses that the department updated its post.
    Russell Westbrook inks 10-year extension with Jordan Brand

    Russell Westbrook inks 10-year extension with Jordan Brand

    In addition to the money & upcoming shoes, the new deal also includes an annual donation by Team Jordan to Westbrook's "Why Not?" According to Nick DePaula of ESPN , part of the contract will include his own on-court performance Air Jordan signature shoe.
  • President Trump to travel to Florida to survey damage from Hurricane Irma

    President Trump to travel to Florida to survey damage from Hurricane Irma

    Irma has caused at least 11 deaths and left about 6.7 million people without power in five states, ABC News reports . At least seven storm-related deaths been reported in Florida , Georgia and SC , according to local officials .
    North Korea says will make U.S.  suffer over 'vicious' United Nations  sanctions

    North Korea says will make U.S. suffer over 'vicious' United Nations sanctions

    Earlier Tuesday, China's Foreign Ministry spokesman Geng Shuang said Beijing strictly enforces all United Nations resolutions. Chinese Ambassador Liu Jieyi again called for talks "sooner rather than later".

    Pep Guardiola calms talk of Champions League success for Manchester City

    Guardiola praised Toure's role in his side that gave them the balance, experience and control he was searching for. City defender John Stones praised the keeper's bravery, saying: "Ederson has got on with it straight away".

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.