Stocks are turning in a lackluster performance in early trading on Friday, as traders express uncertainty about the outlook for the markets following recent strength. The major averages are showing only modest moves after ending the previous session at nearly six-month closing highs.
Currently, the major averages are turning in a mixed performance, with the Dow posting a modest gain. The Dow is up 45.26 points or 0.4 percent at 12,669.24, while the Nasdaq is down 6.52 points or 0.2 percent at 2,781.81 and the S&P 500 is down 1.05 points or 0.1 percent at 1,313.45.
The choppy trading on Wall Street come as traders show a mixed reaction to the latest batch of earnings news. While General Electric (GE) and Google (GOOG) are under pressure after reporting their quarterly results, IBM (IBM) and Microsoft (MSFT) are posting notable gains.
While GE reported fourth quarter adjusted earnings of $0.39 per share, a penny above analyst estimates, the company's sales fell 8 percent to $38 billion, below expectations for $40 billion. Shares of GE are down by 1 percent on the news.
Internet search giant Google is down by 8.2 percent after reporting weaker than expected fourth quarter results after the close of trading on Thursday.
Meanwhile, shares of Microsoft are up by 3.3 percent after the software giant reported better than expected second quarter earnings on revenues that came about in line with estimates. IBM is also trading higher after reporting better than expected quarterly results.
Most of the major sectors are showing only modest moves, although significant strength has emerged in the software sector. Along with Microsoft, Tibco Software (TIBX) is helping to lead the sector higher.
Oil service and brokerage stocks are also seeing early strength, while weakness is visible among health insurance and trucking stocks.
In overseas trading, stock markets across the Asia-Pacific region moved to the upside during trading on Friday, benefiting from the overnight strength on Wall Street. Japan's Nikkei 225 Index advanced by 1.5 percent, while Hong Kong's Hang Seng Index rose by 0.8 percent.
Meanwhile, the major European markets are seeing modest weakness on the day. The U.K.'s FTSE 100 Index, the German DAX Index, and the French CAC 40 Index are all down by just 0.1 percent.
In the bond market, treasuries are moving to the downside, extending a recent downward move. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 3.8 basis points at 2.01 percent.
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Market Analysis
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.