Most of the U.S. stocks were trading higher during the late morning on August 30. Strengthening economics from two reports released during the day helped bump the S&P 500. But continued concern over the ongoing relationship between the United States and North Korea kept grounds shaky in the market.

Major indexes ended up opening lower with a slight turn into the green. The Nasdaq most noticeably saw strength based on its biotech component getting a lift. Further to this, the Dow Jones Industrial Average fell about 0.1 percent. It’s important to note that the S&P 500 for instance has managed to close higher every session for the last 3 sessions.

This cut August’s losses to under one percent. Now it is less than two percentage points lower than the previous record close. That figure was hit earlier this month. Additionally, the U.S. economy grew by a pace of about three percent during the second quarter. This is a quicker pace than was initially reported. This was also quicker than the rate of the last two years.

Even with this positive sentiment, concerns still exist on valuations of stock right now. Many analysts think that the market may be a bit over bought at the moment, in comparison to fundamental norms. Wayne Kaufman, chief market analyst at Phoenix Financial Services, said in an article,

“The economy is doing well, we continue to show growth, people are working and spending, and this should be a positive for markets…However, this is the slowest time of the year, volumes are very low, and there could be some additional volatility stemming from Harvey and North Korea that could prevent short-term gains.”

Keep in mind that North Korea just launched a missile over Japanese airspace and further to that, South Korea staged a “live-fire drill” that simulated the destruction of North Korea’s leadership. South Korea’s Presidential Office announced four F-15K fighter jets had dropped eight MK 84 bombs on a simulated target at the Taebaek Pilsung Firing Range in the country’s northeastern Gangwon province, about five hours drive from Seoul.

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