Investors take a breath as US Stocks end winning streak

S&P Dow hit record highs as Apple climbs

S&P Dow hit record highs as Apple climbs

The S&P 500, a broader gauge of United States companies, fell 0.24 percent to 2,474.92.

In Asia, most stock indexes were pressured as geopolitical tensions re-entered the spotlight on Wednesday and China consumer inflation missed expectations.

"Trump's comments about North Korea have created nervousness and the fear is if the president really means what he said "fire and fury".

The back-and-forth came on the heels of reports the USA intelligence community has determined North Korea has successfully produced a miniaturized nuclear warhead that can fit inside its missiles. More than 70 percent of S&P 500 companies that had reported posted better-than-expected earnings while 69 percent have beaten of sales, according to data from Thomson Reuters I/B/E/S.

"We are encouraged by our first-quarter performance, although we continue to believe that fiscal 2018 will be a transition year for our company, as we focus on laying the foundation for the future by executing on our strategic plan", he said.

The Labor Department also said unit labor costs rose by 0.6% in the second quarter following an upwardly revised 5.4% spike in the first quarter.

Stocks fluctuated over the course of the trading session on Tuesday before eventually closing modestly lower.

Unit labor costs had been expected to climb by 1.2 percent compared to the 2.2 percent jump that had been reported for the previous quarter.

Trump arrives in NJ for working vacation
At the end of August, Donald Trump has taken 53 days of "leisure" compared to 15 for Barack Obama , according to this count. Trump will embark on a 17-day getaway to his 500-acre private golf club off Lamington Road in Bedminster, New Jersey .

The weakness among oil service stocks comes even though the price of crude oil for September delivery is inching up USD0.01 to USD49.18 a barrel.

Declining issues outnumbered advancing ones on the NYSE by a 1.14-to-1 ratio; on Nasdaq, a 1.11-to-1 ratio favored advancers. It fell to as low as 2,371.28 earlier, its lowest intraday level since June 23.

The major European markets have also shown notable moves to the downside on the day.

The December gold contract was ahead $16.70 to US$1,279.30 an ounce.

A majority of the major sectors have moved lower on the day, although most are showing relatively modest moves to the downside.

Nevertheless, traditional safe havens jumped, with the benchmark 10-year USA note yield hitting its lowest level since June 28 and gold futures surging more than 1 percent. While the German DAX Index rose by 0.3%, the French CAC 40 Index and the UK's FTSE 100 Index edged up by 0.2% and 0.1%, respectively. Japan's Nikkei 225 Index fell by 0.3%, while Hong Kong's Hang Seng Index advanced by 0.6%.

In the bond market, treasuries have moved sharply higher due to their appeal as a safe haven amid geopolitical tensions.

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