Wall Street higher but on track for deep weekly losses

At 9:38am ET the Dow Jones Industrial Average was down 85.43 points or 0.39% at 21,963.27. The AFP

At 9:38am ET the Dow Jones Industrial Average was down 85.43 points or 0.39% at 21,963.27. The AFP

"As a portfolio manager, you say, 'Do I think we'll get a war out of this?'" said Torsten Slok, chief global economist at Deutsche Bank, referring to the back and forth between North Korea and President Donald Trump.

US stocks closed higher on Friday as Wall Street clawed back from a sharp decline in the previous session but the market still posted a weekly loss on lingering geopolitical uncertainties.

In Toronto, the composite index S&P/TSX has lost 143,08 points, or 0.9 %, to close at 15 074,25 points, the decline being nearly generalized to all sectors.

Trump was responding to North Korea's claim it was completing plans to fire four intermediate-range missiles over Japan to land near the US Pacific territory of Guam.

At 10:57 a.m. ET (1457 GMT), the Dow Jones Industrial Average .DJI was up 54.38 points, or 0.25 percent, at 21,898.39, the S&P 500 .SPX was up 8.69 points, or 0.35 percent, at 2,446.90.

The S&P 500 and Nasdaq followed the Dow, falling 1.5 percent and 2.1 percent, respectively. Titled "Reckless game over the Korean Peninsula runs risk of real war", the editorial suggested China will stay neutral if North Korea strikes first, but will intervene if the U.S.is the first mover. Broadcom gave up $5.72, or 2.3 percent, to $243.45. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33.

Retail results are also on investors' mind as the second-quarter earning season winds down.

Macy's was down 4.4 percent after the company said its sales continued to decline in the second quarter.

Shares Snap fell 1.94, or 14%, to 11.83 after the Snapchat parent reported earnings late Thursday that missed analyst forecasts.

BONDS: Bond prices rose.

Investors opted for the perceived safety of US Treasuries, which pushed the yield on the 10-year note three basis points lower to 2.21%.

Separately, U.S. producer prices unexpectedly fell in July, recording their biggest drop in almost a year, weighed down by declining costs for services and energy products.

CURRENCIES: The dollar slipped to 109.48 yen from 109.85 late Wednesday.

MARKETS OVERSEAS: Major indexes in Europe were headed lower. Britain's FTSE 100 sank 1.3 percent.

In Asia, the Nikkei was flat, while Hong Kong's Hang Seng fell 1.8 per cent and the Shanghai Composite finished 1.6 per cent lower. In Australia, the S&P/ASX 200 was down 1.13%.

Significant strength is also visible among computer hardware stocks, as reflected by the 1.1 percent advance by the NYSE Arca Computer Hardware Index.