RTTNews - After seeing some volatility earlier in the session, stocks have moved mostly lower over the course of morning trading on Friday. The major averages have all moved into negative territory, more than offsetting the gains posted in the previous session.
Some selling pressure has been generated by a report from Reuters and the University of Michigan showing a substantial deterioration in consumer sentiment in the month of July. The consumer sentiment index fell to 64.6 in July from 70.8 in June.
The downward move reflects significant weakness that has emerged in a variety of sectors, with resource stocks helping to lead the way lower amid a decrease in commodities prices. Housing, real estate, and chemical stocks are also posting notable losses.
The major averages have seen some further downside in recent trading, falling to new lows for the session. The Dow is currently down 86.31 at 8,096.86, the Nasdaq is down 10.19 at 1,742.36 and the S&P 500 is down 9.34 at 873.34.
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