MARKET SNAPSHOT: U.S. Stock Futures Pull Back As North Korea Threatens Guam

By Victor Reklaitis, MarketWatch Features Dow Jones Newswires

Premarket drops by Priceline, Netflix and Disney also hurt

Continue Reading Below

U.S. stock futures on Wednesday pointed to a decline at the open, as premarket drops by Priceline, Netflix and Disney weighed, and as analysts also blamed the retreat on worries about escalating U.S.-North Korea tensions.

North Korea threatened a missile strike ( on a U.S. military base on Guam, with that saber-rattling coming early Wednesday in that country after President Donald Trump on Tuesday afternoon said he would respond with "fire and fury like the world has never seen (" if the Asian country doesn't halt its threats.

S&P 500 futures lost 8.05 points, or 0.3%, to 2,464.75, while Dow Jones Industrial Average futures shed 24 points, or 0.1%, to 22,006.00. Futures for the tech-heavy Nasdaq-100 gave up 28 points, or 0.5%, to 5,890.00

"The geopolitical tensions have prompted a risk-off trade," said Naeem Aslam, chief market analyst at Think Markets UK, in a note. "President Trump's comments about North Korea have created nervousness."

On Tuesday, the S&P 500 , Dow and Nasdaq Composite all lost 0.2% (, finishing near session lows after Trump's tough talk about the isolated Asian nation.

Continue Reading Below

Other markets: Gold futures gained nearly 1% as investors moved toward safety plays. European equities traded lower, after Asian markets mostly closed with losses ( Oil futures and a key dollar index were little changed.

Individual movers: Shares in Walt Disney Co.(DIS) look set for a down day, losing 3.5% in premarket action. The media giant late Tuesday announced plans to end ( its distribution deal with Netflix Inc.(NFLX) and launch its own ESPN and Disney streaming services.

Shares in streaming giant Netflix fell 3.6% premarket.

See:Disney and Netflix was always a short-term relationship (

And read:What the ESPN streaming service will look like (

Priceline Group Inc.(PCLN) dropped 6.5% in thin trading ahead of the open. The online travel broker late Tuesday posted quarterly earnings that topped forecasts, but bookings missed expectations (

Retailer Office Depot Inc.(ODP) , drug maker Mylan NV(MYL) and fast-food chain Wendy's Co.(WEN) are also likely to see active trading as they're among the companies expected to post earnings before the open.

Economic news: A report on second-quarter productivity and labor costs is slated to hit at 8:30 a.m. Eastern Time, with economists polled by MarketWatch forecasting growth of 0.6% and 1.1%, respectively.

At 10 a.m. Eastern, a June figure for wholesale inventories is due to hit.

Check out:MarketWatch's Economic Calendar (

On the Federal Reserve front, Chicago Fed President Charles Evans is scheduled to talk with reporters about the economy and monetary policy at 1 p.m. Eastern.

(END) Dow Jones Newswires

August 09, 2017 05:02 ET (09:02 GMT)