×
S&P 500   3,813.09 (-0.22%)
DOW   30,989.15 (+0.14%)
QQQ   283.55 (+0.00%)
AAPL   139.91 (+1.80%)
MSFT   260.76 (+1.67%)
META   163.06 (+1.48%)
GOOGL   2,237.38 (-0.12%)
AMZN   109.65 (+2.09%)
TSLA   674.43 (-3.38%)
NVDA   153.94 (-3.68%)
NIO   21.89 (-2.10%)
BABA   115.77 (-0.85%)
AMD   77.37 (-4.22%)
MU   55.91 (-3.37%)
CGC   3.52 (-2.49%)
T   20.65 (+0.19%)
GE   63.95 (-2.93%)
F   11.49 (-2.71%)
DIS   95.04 (-0.92%)
AMC   13.33 (-0.37%)
PFE   51.10 (+0.87%)
PYPL   71.81 (-0.01%)
NFLX   177.86 (-0.97%)
S&P 500   3,813.09 (-0.22%)
DOW   30,989.15 (+0.14%)
QQQ   283.55 (+0.00%)
AAPL   139.91 (+1.80%)
MSFT   260.76 (+1.67%)
META   163.06 (+1.48%)
GOOGL   2,237.38 (-0.12%)
AMZN   109.65 (+2.09%)
TSLA   674.43 (-3.38%)
NVDA   153.94 (-3.68%)
NIO   21.89 (-2.10%)
BABA   115.77 (-0.85%)
AMD   77.37 (-4.22%)
MU   55.91 (-3.37%)
CGC   3.52 (-2.49%)
T   20.65 (+0.19%)
GE   63.95 (-2.93%)
F   11.49 (-2.71%)
DIS   95.04 (-0.92%)
AMC   13.33 (-0.37%)
PFE   51.10 (+0.87%)
PYPL   71.81 (-0.01%)
NFLX   177.86 (-0.97%)
S&P 500   3,813.09 (-0.22%)
DOW   30,989.15 (+0.14%)
QQQ   283.55 (+0.00%)
AAPL   139.91 (+1.80%)
MSFT   260.76 (+1.67%)
META   163.06 (+1.48%)
GOOGL   2,237.38 (-0.12%)
AMZN   109.65 (+2.09%)
TSLA   674.43 (-3.38%)
NVDA   153.94 (-3.68%)
NIO   21.89 (-2.10%)
BABA   115.77 (-0.85%)
AMD   77.37 (-4.22%)
MU   55.91 (-3.37%)
CGC   3.52 (-2.49%)
T   20.65 (+0.19%)
GE   63.95 (-2.93%)
F   11.49 (-2.71%)
DIS   95.04 (-0.92%)
AMC   13.33 (-0.37%)
PFE   51.10 (+0.87%)
PYPL   71.81 (-0.01%)
NFLX   177.86 (-0.97%)
S&P 500   3,813.09 (-0.22%)
DOW   30,989.15 (+0.14%)
QQQ   283.55 (+0.00%)
AAPL   139.91 (+1.80%)
MSFT   260.76 (+1.67%)
META   163.06 (+1.48%)
GOOGL   2,237.38 (-0.12%)
AMZN   109.65 (+2.09%)
TSLA   674.43 (-3.38%)
NVDA   153.94 (-3.68%)
NIO   21.89 (-2.10%)
BABA   115.77 (-0.85%)
AMD   77.37 (-4.22%)
MU   55.91 (-3.37%)
CGC   3.52 (-2.49%)
T   20.65 (+0.19%)
GE   63.95 (-2.93%)
F   11.49 (-2.71%)
DIS   95.04 (-0.92%)
AMC   13.33 (-0.37%)
PFE   51.10 (+0.87%)
PYPL   71.81 (-0.01%)
NFLX   177.86 (-0.97%)

US, SKorea to consider expanded military drills vs NKorea

Saturday, May 21, 2022 | Aamer Madhani And Josh Boak, Associated Press


U.S. President Joe Biden, right, speaks during a news conference with South Korean President Yoon Suk Yeol, left, at the People's House, Saturday, May 21, 2022, in Seoul. (AP Photo/Evan Vucci)

SEOUL, South Korea (AP) — U.S. President Joe Biden and South Korea President Yoon Suk Yeol said after meeting Saturday that they will consider expanded military exercises to deter the nuclear threat from North Korea at a time when there's little hope of real diplomacy on the matter.

Yoon affirmed in remarks at a news conference that their shared goal is the complete denuclearization of North Korea. The U.S. and South Korea issued a joint statement that said they were committed to a “rules-based international order” following Russia's invasion of Ukraine. The statement likely sets the stage for how the U.S. and its allies will address any challenges with North Korea.

The statement may draw an angry response from North Korea, which had defended its nuclear weapons and missile development on what it perceives as U.S. threats and long described the U.S-South Korea military exercises as invasion rehearsals, although the allies have described the drills as defensive

Biden told his counterpart at a meeting that their 70-year alliance between their countries is based on “shared sacrifice” and would be taken to new levels as the emphasis on national security is being augmented by an added focus on trade and technology.

“Our two nations are working to take on both the opportunities and challenges of the moment,” the U.S. president said.

The division of the Korean peninsula after World War II has led to two radically different countries. In South Korea, Biden is touring factories for computer chips and next-generation autos in a democracy and engaging in talks for greater cooperation. But in the North, there is a deadly coronavirus outbreak in a largely unvaccinated autocracy that can best command the world's attention by flexing its nuclear capabilities.

Speaking to reporters aboard Air Force One as Biden flew to South Korea, White House national security adviser Jake Sullivan said the U.S. has coordinated with Seoul and Tokyo on how they’ll respond should the North conduct a nuclear test or missile strike while Biden is in the region or soon after. Sullivan also spoke with his Chinese counterpart Yang Jiechi earlier in the week and urged Beijing to use its influence to persuade the North to cease the tests.


As part of a five-day visit in Asia, Biden spent Saturday developing his relationship with Yoon, who assumed office little more than a week ago. One of Biden's tasks involved reassuring South Korea about the U.S. commitment to countering North Korea's Kim Jong Un.

There’s worry in Seoul that Washington is slipping back to the Obama administration’s “strategic patience” policy of ignoring North Korea until it demonstrates seriousness about denuclearization, an approach that was criticized for neglecting the North as it made huge strides in building its nuclear arsenal.

Prospects for real nuclear diplomacy are slim as North Korea has ignored South Korean and U.S. offers of assistance with its COVID-19 outbreak, dimming hopes that such cooperation could help ease nuclear tensions or even lead to talks. Still, Biden and Yoon are expected to discuss ways to work with the international community to get the North much needed vaccines and tests, according to senior Biden administration officials who briefed reporters.

The U.S. president opened Saturday by laying a wreath at Seoul National Cemetery, wearing white gloves and a somber expression as he also burned incense and then signed a guest book. Biden then greeted Yoon at the People's House for a nearly two-hour meeting and brief public remarks. The pair will also hold a joint news conference and attend a leaders' dinner at the National Museum of Korea.

In addition to North Korea, both leaders are keen to emphasize growing trade relations as two Korean industrial stalwarts — Samsung and Hyundai — are opening major plants in the U.S.

Biden faces growing disapproval within the U.S. over inflation near a 40-year high, but his administration sees one clear economic win in the contest with China for influence in the Pacific. Bloomberg Economics Analysis estimates that the U.S. economy will grow faster this year than China for the first time since 1976, a forecast that White House press secretary Karine Jean-Pierre credited to Biden's spending on coronavirus relief and infrastructure that led to faster job growth.

The national security event that is galvanizing broader discussions between the two countries has been Russia's invasion of Ukraine, a war that has led to an unprecedented set of sanctions by the U.S. and its allies.

South Korea joined the U.S. in imposing export controls against Russia and blocking Russian banks from the SWIFT payments system. Its participation was key to stopping Russia’s access to computer chips and other technologies needed for weapons and economic development.

At the start of the administration, many White House officials thought that Kim’s nuclear ambitions would prove to be perhaps the administration’s most vexing challenge and that the North Korean leader would aim to test Biden’s mettle early in his time in office.

Through the first 14 months of Biden’s administration, Pyongyang held off on missile tests even as it ignored efforts by the administration to reach out through back channels in hopes of restarting talks that could lead to the North’s denuclearization in return for sanctions relief.

But the quiet didn't last. North Korea has tested missiles 16 separate times this year, including in March, when its first flight of an intercontinental ballistic missile since 2017 demonstrated a potential range including the entire U.S. mainland.

The Biden administration is calling on China to restrain North Korea from engaging in any missile or nuclear tests. Speaking on Air Force One, Sullivan said Biden and Chinese President Xi Jinping could hold a phone call in the coming weeks.

Biden has fiercely criticized Beijing over its human rights record, trade practices, military harassment of the self-ruled island of Taiwan and more. And while Biden has made clear that he sees China as the United States’ greatest economic and national security competitor, he says it is crucial to keep the lines of communication open so the two powers can cooperate on issues of mutual concern. North Korea is perhaps highest on that list.

White House officials said Biden won’t visit the Demilitarized Zone dividing the Korean peninsula during his trip -- something that’s become standard for presidents during Seoul visits dating back to Ronald Reagan. Biden visited the DMZ in 2013 as vice president. Sullivan said the president's decision to skip the stop this time wasn't driven by security concerns.

Instead, Biden on Sunday will visit the Air Operations Center’s Combat Operations Floor on Osan Air Base, south of Seoul. The U.S. sees it as one of the most critical installations in Northeast Asia.

___

Associated Press writer Kim Tong-Hyung contributed to this report.


7 Defense Stocks to Buy as Global Tensions Continue to Grow

The United States may not officially be on a war footing. But since the Russian invasion of Ukraine, the Biden administration is pledging $350 million in military aid. And we're not the only ones. Our NATO allies are also making commitments to help Ukraine in its defense. And those commitments, along with that of the United States is likely to increase if the conflict escalates.  

That means this is the time for opportunistic investors to pounce on defense stocks. These are stocks that support the military industrial complex in the United States. Even in peace time, the defense department commands a significant portion of the federal government's budget. So it's logical to presume that more money will be spent to assist in our defense as well as the defense of other countries.

This is an example of investing in the world that exists rather than the world you may want. These seven companies stand to see a sizable increase in revenue. This is likely to spill over into earnings which in turn will lead to a higher stock price over time.

Here are seven defense stocks that you should be considering right now.



View the "7 Defense Stocks to Buy as Global Tensions Continue to Grow".

Free Email Newsletter

Complete the form below to receive the latest headlines and analysts' recommendations for your stocks with our free daily email newsletter:


Most Read This Week

Recent Articles

Search Headlines:

Latest PodcastHow to Profit In The Bear Market

Today, Kate is joined by a repeat guest, Rob Isbitts of Sungarden Investment Publishing. Rob specializes in ETF portfolios designed to deliver returns in any kind of market condition, including the current bear. In this conversation, Rob gives specific ideas for handling various allocations in your portfolio, and discusses how to approach inverse ETFs.

MarketBeat Resources

Premium Research Tools

MarketBeat All Access subscribers can access stock screeners, the Idea Engine, data export tools, research reports, and other premium tools.

Discover All Access

Market Data and Calendars

Looking for new stock ideas? Want to see which stocks are moving? View our full suite of financial calendars and market data tables, all for free.

View Market Data

Investing Education and Resources

Receive a free world-class investing education from MarketBeat. Learn about financial terms, types of investments, trading strategies and more.

Financial Terms
Details Here
MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau MarketBeat is rated as Great on TrustPilot

© American Consumer News, LLC dba MarketBeat® 2010-2022. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information | RSS Feeds

© 2022 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer.