Earlier this week, President Donald Trump said that North Korea would face “fire and fury” if it continued to threaten the States, however North Korea has dismissed these warnings by the U.S. incumbent as a “load of nonsense“, according to Reuters.
North Korea also went on to detail plans of a missile strike near the U.S. island territory of Guam, with the state run media agency KCNA stating that the North’s army would be able to finalize its plans by mid-August; Reuters added.
In the data space, the Producer Price Index (PPI) fell 0.1 percent versus expectations of a 0.1 percent increase, the biggest drop in nearly a year, according to Reuters.
Though the correlation between the PPI and the consumer price index has fallen, last month’s drop in producer prices could caution the Federal Reserve, which is looking to gradually raise interest rates and curtail its balance sheet.
In other data news, the U.S. weekly jobless claims totaled 244,000 versus 240,000 estimated.
The Treasury Budget is expected to keep investors on their toes, with it set to be released at 2 p.m. ET.
Speaking of the U.S. economy, the New York Federal Reserve President William Dudley will be in New York to discuss wage inequality in the region.