Stocks are turning in a lackluster performance in early trading on Friday after moving sharply higher over the course of the previous session. The major averages have been bouncing back and forth across the unchanged line.
The choppy trading on Wall Street comes as traders digest the latest batch of U.S. economic data, including a report from the Federal Reserve showing that industrial production unexpectedly came in unchanged in May.
The Labor Department also reported a bigger than expected increase in producer prices in May, while Reuters and the University of Michigan released a report showing an unexpected drop in consumer sentiment in June.
While most of the major sectors are showing only modest moves, some strength has emerged among railroad, commercial real estate, and housing stocks.
On the other hand, notable weakness is visible among biotechnology stocks, with Myriad Genetics (MYGN) leading the way lower after yesterday's Supreme Court ruling.
The major averages are currently turning in a mixed performance. While the Nasdaq is down 1.50 points or less than a tenth of a percent at 3,443.87, the Dow is up 11.93 points or 0.1 percent at 15,188.01 and the S&P 500 is up 2.52 points or 0.2 percent at 1,638.88.
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