Currently, the major averages are turning in a mixed performance. While the Nasdaq has inched up 1.26 points or less than a tenth of a % to 4,238.45, the Dow is down 24.34 points or 0.2% at 16,719.29 and the S&P 500 is down 1.51 points or 0.1% at 1,923.46.
The choppy trading on
While profit taking helped to pull stocks lower at the start of trading, the major averages pared their losses following the release of a report showing a bigger than expected increase in US factory orders.
Most of the major sectors are currently showing only modest move, although notable weakness is visible among gold stocks. The NYSE Arca Gold Bugs Index is down by 1.1%, with the weakness in the sector coming amid a modest decrease by the price of gold.
Railroad and software stocks are also seeing some weakness in early trading, while strength has emerged among semiconductor stocks.
Among individual stocks, shares of
Doughnut maker Krispy Kreme (KKD) has also come under pressure after the company reported first quarter earnings in line with estimates but cut its full-year earnings guidance.
On the other hand, shares of
In overseas trading, stock markets across the
Meanwhile, the major European markets have all moved to the downside on the day. While the
In the bond market, treasuries are moving moderately higher, pulling back further off their recent highs. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.6 basis points at 2.57%.
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