Stocks have shown a notable move to the downside over the course of morning trading on Friday, with the major averages pulling back further off their recent highs. Traders continue to cash in on recent gains amid a negative reaction to the latest batch of quarterly results.
With D.R. Horton (DHI) helping to lead the way lower after reporting a wider than expected fourth quarter loss, housing stocks are turning in some of the worst performances. The Philadelphia Housing Sector Index is currently down 2.9 percent.
Resource stocks are also under pressure, with oil service stocks posting particularly steep losses amid a notable drop by the price of crude oil. With crude for December delivery down $0.86 at $76.60 a barrel, the Philadelphia Oil Service Index is down 2.6 percent.
Significant weakness is also visible among technology stocks, which are seeing some further downside after turning in some of the worst performances on Thursday. The weakness in the sector is partly due to disappointing quarterly results from Dell (DELL).
The major averages have seen some further downside in recent trading, falling to new lows for the session. The Dow is currently down 57.36 at 10,275.08, the Nasdaq is down 18.55 at 2,138.27 and the S&P 500 is down 7.58 at 1,087.32.
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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.