After showing a lack of direction earlier in the session, stocks have shown a notable move to the downside over the course of morning trading on Friday. The major averages have moved more firmly into negative territory, although they are currently holding onto gains for the week.
While selling pressure has remained somewhat subdued, significant weakness has emerged in a variety of sectors. After bucking the uptrend in the previous session, gold stocks are seeing some further downside amid a continued decrease by the price of the precious metal.
Health insurance, biotechnology, banking, and housing stocks have also come under pressure over the course of the morning, contributing to the downward move by the broader markets.
On the other hand, some computer hardware stocks are posting notable gains, contributing to a 2.3 percent gain by the Amex Computer Hardware Index. Palm (PALM) and Dell (DELL) are turning in two of the sector's best performances.
The major averages have moved roughly sideways in recent trading, stuck well below the unchanged line. The Dow is currently down 59.73 at 7,918.35, the Nasdaq is down 6.53 at 1,596.10 and the S&P 500 is down 5.81 at 828.57.
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