RTTNews - Stocks continue to turn in a mixed performance in late morning trading on Friday, with the major averages on opposite sides of the unchanged line after failing to sustain an initial upward move.

Despite the mixed performance by the broader markets, semiconductor stocks continue to post strong gains after industry giant Intel (INTC) raised its third quarter guidance. The Philadelphia Semiconductor Index is currently up 2.3 percent.

Computer hardware stocks are also posting notably gains after computer maker Dell (DELL) reported better than expected quarterly results. Some strength is also visible among metal stocks amid an increase in commodities prices.

On the other hand, tobacco and health insurance stocks have shown notable moves to the downside over the course of the morning. The NYSE Arca Tobacco Index and the Morgan Stanley Healthcare Payor Index are both currently down 1.2 percent.

The major averages have moved roughly sideways in recent trading, stuck on opposite sides of the unchanged line. While the Nasdaq is currently up 8.63 at 2,036.36, the Dow is down 27.21 at 9,553.42 and the S&P 500 is down 0.43 at 1,030.55.

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