RTTNews - After seeing some early weakness, stocks have remained mostly lower over the course of morning trading on Friday. While the Dow recently staged a recovery attempt, the broader Nasdaq and S&P 500 have remained firmly negative.
Significant weakness has emerged in a variety of sectors, with semiconductor stocks turning in some of the worst performances. The Philadelphia Semiconductor Index is currently down 3 percent, adding to the loss it posted in the previous session.
National Semiconductor (NSM) has helped to lead the semiconductor sector lower after reporting a fourth quarter loss versus a year ago profit. At the same time, the chipmaker forecast better than expected first quarter sales.
Resource stocks are also under pressure in morning trading, with a pullback by commodities prices inspiring traders to do some profit taking. On the other hand, railroad, pharmaceutical, and real estate stocks are bucking the downtrend by the broader markets.
The major averages are currently all in negative territory, although the Dow is posting a relatively modest loss. The Dow is currently down 12.47 at 8,758.45, the Nasdaq is down 23.14 at 1,839.23 and the S&P 500 is down 4.92 at 939.97.
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