RTTNews - While buying interest has remained somewhat subdued, stocks have moved mostly higher over the course of morning trading on Friday. Nonetheless, some traders are staying on the sidelines amid uncertainty about the outlook for the markets.
The upward move is partly due to significant strength that has emerged in the transportation sector, with the Dow Jones Transportation Average currently up 2.1 percent. Trucking and railroad stocks are posting notable gain.
Housing, health insurance, and computer hardware stocks have also shown strong upward move over the course of the morning. Within the hardware sector, handheld computer maker Palm (PALM) is helping to lead the way higher, rising 4.9 percent.
On the other hand, weakness among utilities, energy, and banking stocks is helping to limit the upside for the broader markets. Among banking stocks, Fifth Third Bancorp (FITB) and Wachovia (WB) are posting significant losses.
The major averages have moved to the downside in recent trading, with the S&P 500 slipping back below the unchanged line, While the S&P 500 is down 0.73 at 892.34, the Dow is up 30.19 at 8,361.51 and the Nasdaq is up 8.57 at 1,697.78.
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