After moving mostly higher over the course of the previous session, stocks are turning in a lackluster performance in early trading on Friday. The major averages are lingering near the unchanged line after ending Thursday's trading at multi-year closing highs.
The choppy trading comes as traders seem reluctant to make any significant moves following the strong upward move seen in recent sessions, expressing some uncertainty about the outlook for the markets.
While most of the major sectors are showing only modest moves, considerable strength has emerged among oil service stocks. The Philadelphia Oil Service Index has surged up by 1.8 percent amid an increase by the price of crude oil.
Natural gas, railroad, and steel stocks are also seeing early strength, while weakness is visible among computer hardware and housing stocks.
The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest loss. While the Nasdaq is down 4.74 points or 0.2 percent at 3,051.63, the Dow is up 9.80 points or 0.1 percent at 13,262.56 and the S&P 500 is up 1.05 points or 0.1 percent at 1,403.65.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.