While selling pressure has remained relatively subdued, stocks are seeing some weakness in late morning trading on Friday. The major averages are all lingering below the unchanged line after turning in a mixed performance earlier in the session.

Adding to recent losses, gold stocks are turning in some of the market's worst performances amid a continued decrease by the price of the precious metal. With gold for June delivery down $11.30 at $868.50 an ounce, the Amex Gold Bugs Index is currently down 2.7 percent.

Health insurance stocks have also shown a notable move to the downside over the course of the morning, dragging the Morgan Stanley Healthcare Payor Index down 2.1 percent. Software, semiconductor, and airline stocks are also posting notable losses.

At the other end of the spectrum, railroad stocks are experiencing significant buying interest, extending the strong upward move seen over the past month. Notable strength is also visible among housing, brokerage, and natural gas stocks.

The major averages have moved roughly sideways in recent trading, lingering in negative territory. The Dow is currently down 8.84 at 8,116.59, the Nasdaq is down 12.58 at 1,657.86 and the S&P 500 is down 0.87 at 864.43.

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