Analyst: 'Global markets have reacted fairly calmly to the test'
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U.S. stock futures inched lower Friday, signaling a muted open after earlier showing a larger drop that came as North Korea fired another missile over Japan.
Dow Jones Industrial Average futures edged down by 9 points, or less than 0.1%, to 22,163. They had been lower by as many as 44 points, according to FactSet data.
Futures for the S&P 500 slipped by 2.80 points to 2,491.50, while those for the Nasdaq-100 gave up 4 points to 5,966.50.
North Korea fired a missile over Japan (http://www.marketwatch.com/story/un-security-council-to-hold-emergency-meeting-after-latest-north-korean-missile-test-2017-09-14) for the second time in less than a month, defying rising international efforts to force it to abandon course. In a rare move, South Korea responded by immediately conducting a simulated strike of the North Korean launch site, while alerts were sent in Japan to smartphones of people living in areas where the missile passed over early Friday local time.
"Global markets have reacted fairly calmly to the test," said Michael Hewson, chief market analyst at CMC Markets UK, in a note. "Yet it is hard to escape the feeling that this so-called shadow boxing between North Korea and the rest of the world could end with a miscalculation from one side or the other."
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Gold futures -- which tend to draw buyers in times of geopolitical tension -- inched up by $2.10, or 0.2%, to $1,331.40 an ounce, as a larger gain faded. They had climbed to around $1,338 an ounce following North Korea's latest move.
South Korea's Kospi index closed 0.4% higher, bouncing back from an earlier drop, as Asian markets overall finished mixed (http://www.marketwatch.com/story/asian-stocks-mostly-retreat-after-north-koreas-latest-missile-test-2017-09-14).
On Thursday, the Dow industrials closed at a record for a third-straight session (http://www.marketwatch.com/story/us-stocks-in-holding-pattern-after-record-run-as-inflation-update-grabs-spotlight-2017-09-14), while the S&P and Nasdaq Composite pulled back from all-time highs achieved Wednesday.
(END) Dow Jones Newswires
September 15, 2017 04:34 ET (08:34 GMT)