Isak, 25, who moved to St James' Park for a club-record fee of £60m in 2022, has four years remaining on his current deal. However, the Daily Mail recently claimed the Magpies aren't in talks with the Swede over a new deal.
But Howe says there are no "short-term issues" with Isak's contract situation at the club and called on the striker, who has scored one goal in Premier League six games this term, to focus on his on-field duties.
"Alex has a long contract and we have to be really careful with our spending re PSR," said Howe in his press conference on Friday morning. "I don’t see short-term issue with his contract. At this moment, Alex just needs to focus on football. We love him here and want him to stay"
Earlier this year, The Independent claimed Isak was Arsenal's top target ahead of the summer transfer window as they aimed to reinforce their forward departments.
That was until Newcastle United made it clear in August that the former Borussia Dortmund and Real Sociedad forward would not be sold.
However, Raheem Sterling ended up being the only new forward to arrive at the Emirates Stadium, joining the Gunners on a season-long loan from Chelsea.
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