Stocks are turning in a lackluster performance in early trading on Friday, as traders seem reluctant to make any significant moves following the rally seen in the previous session. The major averages are lingering near the unchanged line after ending Thursday's trading firmly positive.
The major averages are currently turning in a mixed performance, with the tech-heavy Nasdaq posting a modest loss. While the Nasdaq is down 3.37 points or 0.1 percent at 2,956.48, the Dow is up 33.95 points or 0.3 percent at 12,938.03 and the S&P 500 is up 3.27 points or 0.2 percent at 1,361.31.
The choppy trading on Wall Street comes as traders express some uncertainty about the near-term outlook for the markets following the recent strength. Nonetheless, optimism about the financial situation in Greece has kept traders from doing much profit taking.
In U.S. economic news, the Labor Department released a report showing a modest increase in consumer prices in the month of January.
The Labor Department said its consumer price index rose by 0.2 percent in January after coming in unchanged in the previous month. Economists had expected the index to increase by 0.3 percent.
Excluding food and energy prices, the core consumer price index also rose by 0.2 percent in January after edging up by 0.1 percent in December. The increase by the core index came in line with economist estimates.
While most of the major sectors are showing only modest moves in early trading, significant strength is visible among oil service stocks. The Philadelphia Oil Service Index is up by 1.4 percent, with the strength in the sector coming amid a notable increase by the price of crude oil.
Railroad, airline, and health insurance stocks are also seeing early strength, while weakness has emerged among biotechnology and gold stocks.
Among individual stocks, Applied Materials (AMAT) are up by 2.4 percent after the semiconductor equipment maker reported better than expected first quarter results. The company's second quarter guidance was also above consensus estimates.
Food maker H.J. Heinz (HNZ) is also trading higher after reporting stronger than expected third quarter earnings and narrowing its full year earnings outlook.
Meanwhile, shares of Gilead Sciences (GILD) are under pressure after the biopharmaceutical company said a majority of patients using its hepatitis C treatment experienced a relapse within four weeks of completing the treatment.
In overseas trading, stock markets across the Asia-Pacific region moved higher on Friday, benefiting from the strength seen on Wall Street overnight. Japan's Nikkei 225 Index jumped 1.6 percent, while Hong Kong's Hang Seng Index rose by 1 percent.
The major European markets are also showing notable moves to the upside on the day. While the U.K.'s FTSE 100 Index is up by 0.6 percent, the French CAC 40 Index and the German DAX Index are both surging up by 1.7 percent.
In the bond market, treasuries are moving moderately, extending the downward move seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.8 basis points at 2.031 percent.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.