Dollar recovery pushes gold down from one-year high

Asian stock indices mixed

Dow Jones Industrial Average futures jumped 110 points, or 0.5%, to 21,888, while S&P 500 futures rose 11.75 points, or 0.5%, to 2,472.75.

"The big news this morning has been that Hurricane Irma, while devastating, has not been as catastrophic as had been feared", said Colin Cieszynski, chief market strategist at CMC Markets. XL Group advanced $1.92, or 5 percent, to $40.53 and Travelers gained $3.25, or 2.7 percent, to $123.01.

Irma, which has toppled cranes, swallowed streets and left millions without power, was starting to weaken on Monday while still pummelling parts of Florida on its destructive march north. The trade-weighted index fell to 75.17 from 75.59 in NY.

Some analysts had expected North Korea to conduct a weapons test on Saturday, coinciding with the country's founding day, as it did previous year to mark the celebration.

The U.N. Security Council is set to vote on Monday on a watered-down US -drafted resolution to impose new sanctions on North Korea over its latest nuclear test, diplomats said.

North Korea marked the anniversary of its founding without any further missile or nuclear tests.

If the USA does "rig up the illegal and unlawful "resolution" on harsher sanctions, the DPRK shall make absolutely sure the USA pays due price", said North Korea's foreign ministry via a statement published by the official KCNA news agency, according to AFP (

There are no major United States data releases due.

Teva jumped 19 per cent after the generic drugmaker named a new chief executive.

Equifax leaders blasted over handling of massive security breach
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With investors less anxious about Irma's impact, insurers Universal Insurance Holdings and HCI Group surged more than 12 per cent, while Heritage Insurance soared 21 per cent.

US stocks rose sharply on Monday as the damage from Hurricane Irma didn't appear to be as bad as feared. That compares with AIR Worldwide's estimate of property damage resulting from Hurricane Harvey of more than $65 billion. Orlando hotels were reportedly full of storm evacuees.

Elsewhere, Tesla was also in the black after the electric auto market sent out a free software update to temporarily extend the battery life of some of its cars to help owners evacuate Hurricane Irma.

"Against a backdrop of concerns about North Korea which despite a quiet weekend, could escalate again today as the United States goes back to the United Nations to try and push for a vote on further sanctions today". The Nikkei 225 index bounced back from its worst week in seven months to gain 1.4% as the Japanese yen, a traditional haven in times of geopolitical and economic stress, weakened.

Shares of insurers, which had been under pressure after the back-to-back natural disasters, gained.

CURRENCIES: The dollar strengthened as the latest developments gave traders less reason to flee to the yen, traditionally considered a haven.

Gold stocks, however, took a thumping, as Alamos Gold lost $1.70, or 16.6%, to $8.55, while Kinross Gold shed 20 cents, or 3.3%, to $5.66.

ENERGY: Oil futures were mixed. Brent crude was off 0.4% to $53.59 a barrel.

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