After moving mostly higher in early trading on Thursday, stocks have turned mixed over the course of the morning. The major averages have all pulled back well off their highs for the session, although the Dow has managed to remain in positive territory.
While a positive reaction to yesterday's monetary policy announcement from the Federal Reserve and upbeat durable goods orders data contributed to the early strength on Wall Street, disappointing housing data has generated some selling pressure since then.
The report from the Commerce Department showed that new home sales unexpectedly decreased in the month of December.
Financial stocks have shown a notable move to the downside on the day, with the KBW Bank Index and the NYSE Arca Broker/Dealer Index falling by 1.7 percent and 1.5 percent, respectively.
The disappointing housing data has also contributed to notable weakness among housing stocks, which have come under pressure along with health insurance and natural gas stocks.
On the other hand, significant strength remains visible among airline, trucking, and gold stocks. The continued strength in the gold sector comes amid a notable increase by the price of the precious metal.
Additionally, a strong gain by Caterpillar (CAT) is helping to keep the Dow above the unchanged line, with the construction equipment manufacturer up by 3.3 percent after reporting stronger than expected fourth quarter earnings growth
The major averages have moved roughly sideways in recent trading, stuck on opposite of sides of the unchanged line. While the Dow is up 26.64 points or 0.2 percent at 12,783.60, the Nasdaq is down 5.15 points or 0.2 percent at 2,813.16 and the S&P 500 is down 2.58 points or 0.2 percent at 1,323.47.
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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.