Stocks remain mostly negative in mid-afternoon trading on Friday, although selling pressure has waned considerably from earlier in the session. The major averages have climbed well off their worst levels of the day but remain stuck in the red.
Disappointing employment data contributed to a sell-off at the start of trading, as the weaker than expected job growth raised concerns about the overall outlook for the economy.
While an upbeat report on service sector activity contributed to a recovery attempt, considerable weakness remains visible in a variety of sectors.
Trucking stocks are posting notable losses on the day, with the Dow Jones Trucking Index down by 1.4 percent after hitting its worst intraday level in well over a month. Tobacco, healthcare provider, and telecom stocks also continue to see significant weakness.
On the other hand, real estate, energy, and gold stocks have moved modestly higher over the course of the trading session. Gold stocks are benefiting from a notable increase by the price of the precious metal.
The major averages have moved roughly sideways in recent trading, lingering in negative territory. The Dow is currently down 58.01 points or 0.5 percent at 12,190.54, the Nasdaq is down 22.99 points or 0.8 percent at 2,750.32 and the S&P 500 is down 6.75 points or 0.5 percent at 1,306.19.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.