The major averages are currently posting modest gains, off their highs for the session. The Dow is up 37.81 points or 0.2% at 16,772.00, the Nasdaq is up 11.85 points or 0.3% at 4,309.48 and the S&P 500 is up 4.98 points or 0.3% at 1,935.09.
A positive reaction to upbeat guidance from
After the close of trading on Thursday,
For the full year,
While the news has contributed to some strength in the tech sector, traders seem reluctant to resume buying stocks amid concerns about escalating violence in
News that militants have seized control of significant portions of the country and are on the march toward
On the economic front, the
Excluding food and energy prices, core producer prices edged down by 0.1% in May following a 0.5% increase in April. Core prices had been expected to tick up by 0.1%.
Meanwhile, Thomson Reuters and the
The report showed that the preliminary reading on the consumer sentiment index for June came in at 81.2 compared to the final May reading of 81.9. Economists had been expecting the index to climb to 83.0.
While a majority of the major sectors have moved to the upside on the day, most continue to show only modest moves in mid-day trading.
Computer hardware stocks have shown a strong upward move, however, with the NYSE Arca Computer Hardware Index advancing by 1.3%.
Some strength also remains visible among semiconductor stocks, with
Railroad and internet stocks are also seeing some strength, while gold stocks are giving back ground after moving sharply higher over the past few sessions.
In overseas trading, stock markets across the
Meanwhile, the major European markets all moved lower on the day. While the
In the bond market, treasuries are moving back to the downside after ending the previous session notably higher. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2 basis points at 2.606%.
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