Majority of companies in the United States have reported strong results and the economic activity has been supporting stocks scale new highs every week.
US stocks closed slightly lower Wednesday, making up much of the ground they lost earlier following a rare batch of earnings disappointments by Walt Disney and other big companies.
The remarks followed a new report asserting that US intelligence has assessed that Pyongyang has successfully produced a nuclear warhead that can fit inside its missiles.
Geopolitical risks can boost demand for assets considered safe-haven investments, such as gold.
USA crude rose 0.43 percent to $48.80 per barrel and Brent was last at $52.01, up 0.21 percent on the day.
Oil prices edged higher after a report showed U.S. refineries processed record amounts of crude in the latest week, eating into inventories, although a surprise jump in gasoline stockpiles limited gains. Economists had expected prices to rise by 0.2 percent. The yield on the 10-year Treasury note slipped to 2.21 percent from 2.25 percent late Wednesday. "What's happened in North Korea is enough to do that".
North Korea had responded to Trump's previous promise to unleash "fire and fury" with a threat to land a missile near the U.S. Pacific territory of Guam. Broadcom gave up $5.72, or 2.3 percent, to $243.45. Dillard's slumped 15.9 percent after the chain booked a loss for the quarter as increased inventory led to big discounts. The stock fell $3.30 to $30.09.
Disney dropped 3.9 percent, its biggest single-day loss in more than a year. The stock fell 85 cents to $12.76. The Nasdaq and the S&P 500 are rebounding after ending Thursday's trading at their lowest closing levels in a month. The Swiss currency was also on track for its biggest daily gain against the euro since the Swiss National Bank removed its cap on the currency in January 2015.
In commodities trading, USA crude oil was wallowing around $49 to the barrel amid speculation that a predicted gain in American output will offset OPEC-led efforts to trim a global glut.
Health care equipment and services company Henry Schein declined amid a broader slide by health care stocks. TripAdvisor shares shed $1.75, or 4.4 percent, to $37.80.
Benchmark U.S. crude added 39 cents to settle at $49.56 a barrel on the New York Mercantile Exchange. Brent crude, used to price global oils, added 21 cents to $52.91.
In other energy futures trading, wholesale gasoline was little changed at $1.62 a gallon, heating oil rose 2 cents to $1.65 a gallon and natural gas rose 6 cents to $2.88 per 1,000 cubic feet. Natural gas gained 2 cents to $2.82 per 1,000 cubic feet.
Spot gold inched down 0.1% to $1,284.64 per ounce as of 11.46am, but was set for a weekly gain of over 2%.
The S&P fell as much as 0.52 per cent at its session low.
The U.S. dollar fell to 110.48 yen from 110.72 yen late Monday.
Markets overseas were mixed Tuesday. Germany's DAX fell 0.9 percent, while the CAC 40 in France lost 0.5 percent.
MSCI's main index of Asia-Pacific shares, excluding Japan, was last down 0.6 percent.MIAPJ0000PUS.
Nikkei was down by 1.29 percent while Indian stock market closed 0.68 percent lower. The most popular cryptocurrency has jumped almost 264 percent in terms of valuation in year 2017.