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Wall Street's 'fear gauge' shakes off President Trump's threat to 'totally destroy' North KoreaExternal Link

A measure of volatility and fear on Wall Street late-morning Tuesday was little changed, even as President Donald Trump threatened to destroy North Korea if provoked. The CBOE Volatility Index , known as Wall Street's fear gauge, was down 1.2% at 10.03, hovering around its lowest levels in its history, and far below its historic average of 20. The index, which measures options bets on the S&P 500 index 30 days into the future, typically rises when anxieties in the market escalate, with the indicator used as a measure of volatility and fear, because stocks tend to fall faster than they rise. In a speech to the U.N. General Assembly on Tuesday, President Trump said the U.S. "has great strength and patience," but would "totally destroy North Korea." The Dow Jones Industrial Average was up 0.1% at 22,361, the S&P 500 index was up about the same level at 2,505, while the Nasdaq Composite Index climbed 0.1% at 6,459. The equity benchmarks failed to move significantly after Trump's bellicose comments, which come on the heels of a number of ballistic missile tests from Pyongyang in recent months and heightening tensions in the Korean Peninsula. The S&P 500 and the Dow are trading in record territory, while the Nasdaq isn't trading far off its own all-time high.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 19 Sep 2017 14:58:56 GMT
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Mattel, Hasbro shares bounce sharply as large customer Toys 'R' Us files for bankruptcyExternal Link

Shares of Mattel Inc. and Hasbro Inc. bounced sharply in morning trade Tuesday, despite the bankruptcy filing of Toys 'R' Us, which was the second-biggest customer of both toy makers in 2016. Mattel's stock climbed 3.2%, after closing Monday at an 8-year low. Toys 'R' Us accounted for 11% of Mattel's sales last year. Hasbro's stock rallied 2.9%, after closing earlier this month at a 7-month low; Toys 'R' Us accounted for 9% of Hasbro's 2016 sales. UBS analyst Arpine Kocharyan wrote in a note to clients that although bankruptcies can be disruptive to industries in the near term, similar cases have not over time impacted toy industry growth, as demand has been picked up by other channels. Meanwhile, Jakks Pacific Inc.'s stock shed 1.8% toward a record low; Toys 'R' Us was Jakks third-largest customer last year, accounting for 9.4% of 2016 sales.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 19 Sep 2017 14:51:45 GMT
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U.S. stocks hold gains as Trump speaks at U.N.External Link

U.S. stock-market indexes held on to modest gains on Tuesday, trading in record territory as President Trump delivered speech at the United Nations General Assembly. Trump singled out North Korea and Iran as rouge states and called for more economical isolation of these regimes. He also said that if the U.S. "is forced to defend itself for its allies, we'll have no choice but to totally destroy North Korea." The S&P 500 was up 1.8 points, or 0.1%, at 2,505. The Nasdaq Composite index inched 7 points, or 0.1% higher to 6,461. The Dow Jones Industrial Average was up 25 points, or 0.1%, at 22,356.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 19 Sep 2017 14:43:38 GMT
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South Korea ETFs unchanged as Trump threatens North Korea at United NationsExternal Link

Exchange-traded funds that track the South Korean equity market were little changed on Tuesday, after President Donald Trump said the U.S. stood "ready, willing and able" to act against North Korea militarily if it threatened the U.S. Speaking at the United Nations, Trump said he would "destroy" the country if necessary, calling it a "depraved" regime whose pursuit of nuclear weapons threatens the world. Military conflict would likely be devastating for the region, but investors didn't seem to fear Trump's words. The iShares MSCI South Korea Capped ETF rose less than 0.1% to $69.88, though it had risen as high as $70.12 earlier in the session. Despite elevated tensions with North Korea throughout the year, the fund is up more than 30% thus far this year. Separately, the Deutsche X-trackers MSCI South Korea Hedged Equity ETF was up 0.1%. Against the U.S. dollar, the South Korean won was unchanged.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 19 Sep 2017 14:39:51 GMT
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Sprint shares gain 8% on renewed speculation of merger talk with T-MobileExternal Link

Shares of Sprint Corp. gained more than 8% during intraday trade on Tuesday after a CNBC report reignited speculation that the mobile company is in talks to merge with T-Mobile US Inc. . Shares of T-Mobile were up more than 3%, and shares of other mobile carriers also saw a bump, with Verizon Communication Inc. shares up nearly 3% and AT&T Inc. shares up close to 2%. In May, a Bloomberg report, citing sources, said that executives at Sprint had "informal contact" with T-Mobile about a possible merger. The wireless industry has become increasingly competitive and crowded, requiring companies to look for acquisition and/or partnership opportunities. Deal talks in the industry had been on hold until April 27 this year due to the government's spectrum auction. Chairman of Sprint-owner SoftBank, Masayoshi Son, and Deutsche Telekom Chief Executive Tim Hoettges, which owns T-Mobile, told investors following the hold to expect talk of industry consolidation, and T-Mobile said it expected to be involved. Shares of T-Mobile are up nearly 12%, while Sprint shares are down about 2% and the S&P 500 index are up close to 12%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tue, 19 Sep 2017 14:20:38 GMT
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