Wall Street opens higher as Irma, North Korea fears ebb

Asian stock indices mixed

The dollar edged higher on Monday after posting its biggest weekly drop in two months as a decline in risk aversion spurred some investors to cover their short positions before USA inflation data later this week.

Hurricane Irma lost some of its steam over the weekend and was downgraded to a Tropical Storm early Monday as it moved along the Florida coastline and into the southeastern U.S. The National Hurricane Center said that although Irma is no longer classified as a hurricane, it is still producing wind gusts that are nearing hurricane-force.

Also boosting risk appetite was North Korea holding a massive celebration on it founding day on Saturday, instead of another long-range missile launch as the United States and its allies were bracing for. That relieved investors, especially in the wake of Hurricane Harvey, whose devastation is estimated to dent third-quarter economic growth.

"The debt ceiling can being kicked down the road a few months is also providing temporary relief but as always with this kind of thing, the problem has only been delayed rather than resolved".

Shares of Travelers Cos., Progressive and American International Group rose 2.6%, 1.3% and 1.2% in the pre-market, respectively.

Canada's main stock index rose on Monday on the weakening of Hurricane Irma overnight and North Korea refraining from a missile test to mark its 69th anniversary, with financial stocks and Tahoe Resources leading the rally.

With Federal Reserve speakers now in a blackout period before next week's policy meeting, the focus this week remains on assessing the impact of natural disasters on US growth and data due on retail spending in the American economy. Among them, Marinus Pharma (MRNS.O) surged about 56 percent and Idera Pharma (IDRA.O) gained about 16 percent.

Aftershocks keep hitting quake-stung Mexico town
The 8.1-magnitude quake, which reached from Guatemala City to Mexico City, registered on the southern coast of the country. Even the iconic Angel of Independence Monument swayed as the quake's waves rolled through the city's soft soil.

James Franklin: Penn State win over Pitt 'like beating Akron'
These days, the roar is real at Beaver Stadium, where Penn State has resurrected itself in the post-Joe Paterno era. After Pitt held Barkley to 22 all-purpose yards in the first half Saturday, he broke loose in the second half.

Erdoğan meets Iran's Rouhani, Pakistani president in Astana
The gathering is expected to discuss and adopt OIC's 10-year action plan on science and technology, dubbed "OIC Science, Technology and Innovation Agenda 2026".

Wall Street opened higher, with the Dow climbing 0.8 percent in the first minute of trading.

The financial sector.SPSY was up 1.69 percent.

The FTSE 100 made some modest gains this morning, as the easing tensions in North Korea offset concerns that the aftermath of Hurricane Irma could be troublesome for the economy. The U.S. 10-year Treasury TMUBMUSD10Y, +2.45% note rose to a yield of 2.10%, which helped to lift the dollar.

The two-year swap rate rose 2 basis points to 2.15 percent while the 10-year swaps rose 3 basis points to 3.05 percent.

On oil markets, United States prices rose modestly after taking a beating Friday caused by Hurricane Irma threatening crude supplies.

In foreign exchange, the European single currency was trading down at $1.1978 compared with $1.2030 late in NY on Friday. The euro fell 0.7% against the greenback, paring some of last week's gains, to trade at $1.1953. The benchmark Nikkei 225 index in Japan jumped 1.4 percent as the yen came off recent highs against the dollar, easing pressure on exporters.

Related:

  • YouTube brings HDR playback support to mobile devices

    YouTube brings HDR playback support to mobile devices

    According to a report by Android Headlines, users will probably be required to change the settings for videos on YouTube . The giant is now working with more creators who also want to expand their services with HDR technology.
    Leaked: Samsung Galaxy Tab A2 S to arrive in two variants

    Leaked: Samsung Galaxy Tab A2 S to arrive in two variants

    It may be recalled that Samsung had earlier adopted a similar rollout strategy for the Galaxy S7 and S7 Edge. It arrives as version number G610FDDU1BQH9, G610FODD1BQH9 and G610FDDU1BQH5 depending on the device variant.

    NASCAR Xfinity Series at Richmond 2017 Results: Brad Keselowski Takes 1st

    But I definitely think you're going to have to win Homestead if you want to be the champion. The Team Penske drivers were fast during the spring but struggled during the summer months.
  • Rajnath arrives in Srinagar, holds out olive branch

    Rajnath arrives in Srinagar, holds out olive branch

    A fire fight between militants and forces was also raging in Burbugh village of Imam Sahib area in southern Shopian district. Union Home Minister Rajnath Singh after his arrival in Srinagar held a one-on-one meeting with the Chief Minister.
    Power outages beginning for some in southwest Florida

    Power outages beginning for some in southwest Florida

    Florida Crystals, about 75 miles northwest of Miami, manufactures sugar, which can be combustible under the right conditions. An NRC study blamed degraded and missing flood seals that were not discovered during checks after Fukushima .
    Nadal on track for 'luckiest' slam win ever?

    Nadal on track for 'luckiest' slam win ever?

    Open and the Grand Slam tennis season tilting into their last fumes, Toni Nadal took a look at that season. He really controls the court well, the few times I have played him.
  • Manchester United prepare £92m bid to sign Arsenal transfer target Thomas Lemar

    Manchester United prepare £92m bid to sign Arsenal transfer target Thomas Lemar

    According to the same story, Lemar's representatives are aware that the Red Devils are interested in signing the Monaco player. Any move for the France worldwide will likely top the £89m club-record fee shelled out for Paul Pogba a year ago .
    Irma downgraded to Category 4 hurricane, but still 'extremely dangerous'

    Irma downgraded to Category 4 hurricane, but still 'extremely dangerous'

    Hurricane Irma made landfall in Marco Island, Florida, as a Category 3 hurricane with winds of 120 miles per hour at 3:35 p.m. Forecasters also predict storm surges of up to 15 feet in southwestern Florida and rainfall up to 25 inches in the Keys.
    People are blocking Narendra Modi on Twitter for following creeps

    People are blocking Narendra Modi on Twitter for following creeps

    PM Modi was later slammed for following a person who would write objectionable language publically on the death of a person. After the controversy erupted, several Twitter users who earlier used to follow PM Modi, blocked.
  • McCain Says His Cancer Is 'Vicious'

    McCain Says His Cancer Is 'Vicious'

    He said that though he's "facing a challenge", he's confident he can beat it, like he has beaten other challenges in the past. McCain, on Sunday, said he hoped people would remember him as someone who served the United States well.
    Nobody wants to see me kiss the girl, says this actor

    Nobody wants to see me kiss the girl, says this actor

    George Clooney feared his wife Amal would turn down his marriage proposal, because they had only been dating a few months. Sometimes in life it doesn't happen on your schedule, but you find the person that you were always supposed to be with.
    Uber Is Phasing Out Fossil Fuel-Powered Cars In London

    Uber Is Phasing Out Fossil Fuel-Powered Cars In London

    Uber intends to roll out both measures across the rest of the 40 United Kingdom towns and cities in which it operates by 2022. That same deadline also applies to a complete ban on diesel vehicles across all rides available through the app.

Comments

Latest news

S. Korea president says THAAD deployment inevitable but temporary
Lee said that Seoul would have to keep the arms until Pyongyang scraps its own nuclear development program. Nato's secretary-general said North Korean behaviour is a global threat and called for a united response.

Korea closely monitors China's further moves over THAAD deployment
Beijing says the system's powerful radars will be able to monitor flights and missile launches deep inside northeastern China. The U.S. began installing the THAAD system under South Korea's previous government.

Welbeck at the double for first time in league for Arsenal
The England worldwide also laid on Alexandre Lacazette's strike as the Gunners got their Premier League campaign back on track. It might be easier to shine against a passive Bournemouth than at a throbbing Anfield, but that is hardly the point.

Anderson's career-best seals Lord's victory and series for England
With Stokes scoring freely and England edging ahead of West Indies' feeble first innings score it looked ominous for the visitors. Cook was lbw to leg-spinner Bishoo's first ball of the match but Stoneman and Westley batted comfortably enough.

Russian Federation does not accept DPRK's nuclear status: Putin
Putin also said he and Abe discussed the prospect of joint economic activities by their countries on the disputed Kurile islands. The statement says both leaders stressed that the worldwide community has condemned North Korea's "provocations".

El-Rufai Visits Buhari, Denies Plans To Contest Presidency In 2019
Suleiman said. "You know PMB has not really been in the country this year; he might have reshuffled before now". By nature and character, she is not the type to divulge sensitive information", Mr.

China says it will back new measures against N.Korea
Moscow exports about 40,000 tons of oil to Pyonyang, a tiny percentage of Russia's overall trade, Putin said, according to Yoon. Following the conversation with Xi, the USA leader said that a military response was not his first option.

Clement: Sanches Must Earn Swansea Place
In an interview with BBC , Bony said,"I think my boys decided. But you've got to capitalise on stuff like that. I will just leave that problem with the justice.

Hingis and Murray win US Open mixed doubles title
Swiss Hingis and Britain's Murray said they fully meant to play the Australian Open together next year. The Swiss and her Taiwanese partner, Yung-Jan Chan, beat Sania Mirza and Shuai Peng 6-4, 6-4.

Trump lawyer's wife arrested after allegedly having sex with inmate
Teresa Jo Burchfield , 53, was arrested Tuesday after allegedly having sex with an inmate outside a detention center. Attempts to contact Teresa Burchfield and Bobby Burchfield were not immediately successful Thursday morning.

After waiting in line for hours, man offers last generator to stranger
She ran into Lowe's and we watched her breakdown in tears when she realized she had just missed the last generator . But after waiting patiently in line, she realised the man in front of her was going to get the final generator .

Extra security for Manchester Arena benefit concert
There was tight security, with backpacks banned and armed police patrolling both the exterior and the inside concourse. But it was Noel Gallagher and his band High Flying Birds that the audience were eagerly anticipating.

Sweet couple, ages 92 and 104, named Irma and Harvey
Harvey and Irma Schluter - aged 104 and 93 - said they "don't know how" both their names ended up being attached to the storms. Both Irma and Harvey say they're not sure what they think and admit it's been hard for them to watch coverage of the storms.

UK Industrial Output Growth Slows In July
However the data showed little signs of improvement elsewhere, with construction output dropping as housebuilding slowed. Exports of goods to the European Union increased but this was offset by falling goods exports to the rest of the world.

Hurricane Katia expected to strengthen as it nears Mexico
Conagua says that very strong storms in Tamaulipas , State of Mexico and Mexico City will be felt before Katia dissipates. Texas and Louisiana are still reeling from the flooding and destruction left by Hurricane Harvey at the end of August.

Other news