Wall Street finished a hard week on a high note


South Korean stocks ended lower Friday as foreign investors sold local stocks amid escalating tensions between North Korea and the United States.

"While it appears that Pyongyang's detailed strike plan against Guam has created a sour backdrop to trading, it's worth noting that US/North Korea tensions aren't having quite the same effect on the DAX and CAC", said Spreadex analyst Connor Campbell.

"If you strip away what's going on in North Korea, and if you strip away what's going on in Washington, which are things that are tougher to predict, the economy, the global recovery, earnings, it all paints a very positive picture for the rest of the year", Kravetz said.

The president said "things will happen to them they never thought possible" should Pyongyang attack the U.S. or its allies. The benchmark Kospi tumbled 39.76 points or 1.7% to 2,319.71, its lowest level since May 24th. The stock lost $142.20 to $1,906.80. It was last up 1.2% at 1.1305 per euro. Australia's S&P/ASX 200 dropped 1.2 percent to 5,693.10.

Nvidia Corp.(NVDA) shares fell 5.3%, even after the chip maker posted upbeat earnings late Thursday. They will be looking for further clues about interest rate hikes from the US Federal Reserve later this year.

The S&P 500 index had its biggest one-day drop in nearly three months on Thursday (Aug 10) as investors fled riskier assets, with technology stocks leading the charge, in response to an increasingly aggressive exchange of threats between the United States and North Korea. Shares in Snap shed $1.57 to $12.20. It fell to a one-week low of 92.99 a few minutes after the release of inflation figures.

OPEC pumped more oil in July as global oil supplies rose for the third straight month, the IEA said Friday, giving figures that cast further doubt on the cartel's pledge to cut output to raise prices.

According to analyst Simona Gambarini, the price of gold "tends to rise in anticipation of a conflict but often falls when tensions turn into a full-blown war".

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Excluding food and energy prices, core consumer prices still crept up by 0.1% in July, matching the increases seen in the three previous months.

Minneapolis Fed President Neel Kashkari is scheduled to take part in a moderated audience Q&A session at the Independent Community Bankers of Minnesota Annual Convention in Bloomington, Minnesota, at 11:30 am ET.

Retailers Wal-Mart (WMT), Home Depot (HD), Target (TGT), Staples (SPLS), and Gap (GPS) are also among the companies due to report their quarterly results next week.

Away from the futures market, London-based gold bullion traders also reported brisk buying by worldwide investors.

In other corporate results, a number of companies reported forecast-beating numbers.

The messaging service added just 7 million new daily active users in the quarter, falling short of estimates.

Technology companies, which have been the biggest gainers this year as the market hit a succession of record highs, led the broad slide.