Stocks moved notably higher at the start of trading on Friday, partly offsetting the weakness that was seen in the previous session. The major averages have all moved back to the upside after ending Thursday's trading in the red.
The early strength on Wall Street comes as some traders buy on the dip that was seen on Thursday, which reflected some disappointing U.S. economic data as well as worries about the Federal Reserve paring back its asset purchase program.
Buying interest has also been generated by a report from the Conference Board showing that its leading economic indicators index for China rose 1.5 percent in April following a 0.6 percent drop in March. Four of the six components contributed positively to the index.
Oil service stocks have shown a substantial move to the upside in early trading, benefiting from a notable increase by the price of crude oil. With crude for June delivery climbing $0.91 to $96.07 a barrel, the Philadelphia Oil Service Index is up by 1.9 percent.
Steel, defense, and housing stocks are also seeing early strength, while most of the major sectors have shown more modest moves to the upside.
On the other hand, gold stocks have come under pressure in early trading, moving lower along with the price of the precious metal.
The major averages have recently pulled back off their highs for the young session but are currently holding on to modest gains. The Dow is up 41.33 points or 0.3 percent at 15,274.55, the Nasdaq is up 10.94 points or 0.3 percent at 3,476.19 and the S&P 500 is up 5.66 points or 0.3 percent at 1,656.13.
For comments and feedback contact: editorial@rttnews.com
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.