Aug 11 (Reuters) - U.S. stocks were modestly higher in late morning trading on Friday as investors cautiously dipped back into riskier assets, after a three-day losing streak on concerns over escalating tensions between the United States and North Korea.
Technology and consumer-focused companies helped lift US stocks higher Tuesday, steering the market indexes further into record territory.
The FTSE 100 Index closed down 79.98 points to 7,309.96, with President Donald Trump tweeting that the USA military is "locked and loaded" as he warned North Korea over its continuing threats.
The Standard & Poor's 500 index fell 35 points, or 1.4 percent, to 2,438, its biggest drop since mid-May. Brent crude futures lost 0.8 percent to $51.5 per barrel on persistent oversupply worries despite a bigger-than-expected drawdown in US crude inventories.
The remarks, following North Korea's earlier revelation of a plan to launch a salvo of ballistic missiles toward the U.S. Pacific territory of Guam, gave investors a reason to pocket profit in the sectors such as technology that have been the biggest gainers in recent months, analysts said. Secretary of State Rex Tillerson later insisted the USA isn't signalling it's about to mete out a military response despite threats from North Korea suggesting it could attack Guam, a US island territory in the Pacific. The yield on the 10-year Treasury note held steady at 2.26 percent.
Franco Nevada Corp rose 3.9 percent to C$95.65, while Barrick Gold Corp was up 1.9 percent at C$21.26.
The unease about the relationship between the US and its allies and North Korea is more prominent in other markets, several market strategists noted.
Retailers' results are being keenly watched by investors to gauge the companies' strategy to counter No. 1 online retailer Amazon.com's growth. The stock lost $4.15 to $102.83.
In Asia, markets were mostly lower after disappointing Chinese trade data.
Energy stocks fell along with the price of crude oil.
The rouble, however, withstood the pressure thanks to global demand for Russia's still high-yielding bonds as well as monthly tax payments due from next week. Shares of Macy's lost $2.36, or 10%, to $20.67, their lowest close since 2010. South Korea's KOSPI fell 1.8 percent to almost a three-month low.
Separately, US producer prices unexpectedly fell in July, recording their biggest drop in almost a year, weighed down by declining costs for services and energy products. Japan's Nikkei 225 Index edged down by 0.1 percent, while Hong Kong's Hang Seng Index tumbled by 1.1 percent.
MARKETS OVERSEAS: In Europe, Germany's DAX fell 1.1 percent, while France's CAC 40 slid 1.4 percent.
In oil, the price of Brent crude sunk by 0.5% to 51.65 USA dollars a barrel amid concerns about over supply in the market. Copper rose 4 cents to $2.94 a pound.
CURRENCIES: The U.S. dollar weakened to 110.35 yen from 110.72 yen.