Stocks are showing mild weakness in early trading on Friday. There was an initial bounce at the outset of the session, amid reports that talks are underway for a solution to the looming fiscal cliffs.
However, Wall Street remains skeptical that Congress and the White House will be able to reach a deal in the near term. Also, a disappointing quarterly report from Dell (DELL) is putting pressure on the technology sector.
Stocks are showing modest losses in mid-morning trading, though the major averages are off their early lows of the day. The Dow is down 29 points. The Nasdaq is lower by 10 points. The S&P 500 is showing a decline of 5 points.
Stocks have been losing ground lately - investors have been selling stocks since the election amid worries about the fiscal cliff. On Thursday, the Dow and Nasdaq recorded their lowest closing levels since June.
In corporate news, Dell is in focus. The PC maker said its quarterly profit fell 47 percent, amid lower sales and deteriorating margins. The company's results missed expectations. Dell also issued a cautious forecast for the fourth quarter.
Shares are down sharply on the news. The stock is currently trading at $8.80, down 76 cents, or nearly 8 percent, on the session.
by RTT Staff Writer
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