After seeing initial weakness, stocks have turned mixed over the course of the trading day on Friday. The tech-heavy Nasdaq has climbed firmly into positive territory, while the Dow and the S&P 500 remain stuck in the red.
The early weakness on Wall Street came following the release of a report from the Commerce Department showing somewhat weaker than expected GDP growth in the fourth quarter, although the pace of growth still reflected a notable acceleration from the previous quarter.
An upbeat report on consumer sentiment in the month of January helped to limit the downside for the markets and even inspired some buying interest.
Extending a recent upward move, airline stocks have shown strong move to the upside on the day, driving the NYSE Arca Airline Index up by 2.1 percent. With the gain, the index has risen to a six-month high.
Gold stocks are also seeing considerable strength in mid-afternoon trading, as the price of the precious metal has reached its best levels in over a month. Healthcare, oil service, and electronic storage stocks are also posting strong gains.
On the other hand, significant weakness remains visible among utilities and tobacco stocks. Notable losses by Chevron (CVX), Travelers (TRV), and Cisco (CSCO) are helping to keep the Dow in the red.
The major averages have moved roughly sideways in recent trading, stuck on opposite sides of the unchanged line. While the Nasdaq is up 6.53 points or 0.2 percent at 2,811.81, the Dow is down 72.51 points or 0.6 percent at 12,662.12 and the S&P 500 is down 2.90 points or 0.2 percent at 1,315.53.
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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.