Dow plummets 205pts as Trump inflames Korea tension

The S&P 500 gained 6 points, or 0.2%, to 2,444, supported by gains in consumer-discretionary, technology and health-care sectors.

"Given the great run we've had, seems like some sort of pullback wouldn't be surprising", said Michael Baele, managing director of investments at U.S. Bank Private Wealth Management. South Korea's Kospi fell 0.5 percent.

US stock index futures were lower on Friday as the escalating war of words with North Korea drove investors to seek safety in low-risk assets. "I think a few investors are capitulating to it". Discovery Communications declined 2.9%, while Viacom shed 1.9%.

On average, the S&P 500 falls 5% or more every 10 weeks and the index falls 10% every 33 weeks, according to data analyzed by AllianceBernstein going back to 1928.

Meanwhile, the Russell 2000 index of small-cap stocks looked poised for a weekly drop of almost 3%, its biggest one-week decline since February 2016.

On Thursday, the CBOE Volatility Index, a barometer of expected near-term stock market volatility, closed at its highest since the USA presidential election.

The consumer price data, which pointed to weak inflation, could cause the Federal Reserve to hold off from raising rates again this year.

Friday's report was the latest in a string of lackluster inflation readings, which have surprised many investors who had entered the year betting on an upsurge in economic growth and inflation.

LA council endorses 2028 Olympic bid
However, an independent analysis of a new budget in the works for 2028 will not likely be completed for months. There are not expected to be any "major" changes to the initial bid plans for the earlier edition.

Shares of Snapchat parent Snap Inc.(SNAP) slid 11% a day after the company's earnings missed forecasts (http://www.marketwatch.com/story/snap-ceos-promise-cant-overcome-declining-ad-rates-stock-heads-toward-new-lows-after-earnings-2017-08-10), and the social-messaging company disclosed that average ad prices fell in the second quarter.

Plus, 2 biotech stocks on the rise; Priceline's post-earnings plunge; and the defense stock that's red hot. They outweighed gains in health care stocks and elsewhere.

THE QUOTE: "Risk-averse sentiment is dominating global equities markets, and USA indices have retraced from record levels over the last two days".

In overseas trading, stock markets across the Asia-Pacific region saw continued weakness during trading on Friday.

If the North Korean regime "does anything" to the United States or a U.S. ally "things will happen to them like they never thought possible", he told reporters on Thursday, according to Bloomberg.

Buying interest is somewhat subdued, however, as the ever-escalating war of words between President Donald Trump and North Korea continues to raise geopolitical concerns.

JC Penney slumped 16.56% to a record low after the retailer reported a bigger-than-expected quarterly loss.

Among other markets, oil prices advanced after a US Department of Energy report showed lower oil inventories. The precious metal is often seen as a safe haven for investors during times of uncertainty.

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