| Wall Street Moderately Higher In Late-Morning Trading - U.S. Commentary
(RTTNews) - The stock markets are seeing modest gains in late-morning trading, helped by a better than expected report on personal income. The Commerce Department released its report on personal income and spending earlier in the day, showing that personal income increased more than expected although spending came in at its weakest level in over a year. Bargain hunters are sending technology stocks higher after they saw sharp declines in the previous session. Within the technology sector, wireless stocks are seeing particular interest, with the Amex Wireless Index climbing 1.8 percent. Steel, natural gas and defense stocks are notably higher as well. On the other hand, JC Penny (JCP) warned earlier that its first-quarter profits will be less than expected, prompting investors to sell retail stocks.
Major Averages Rangebound In Late-Morning Trading
(RTTNews) - The stock markets are seeing modest gains in late-morning trading, helped by a better than expected report on personal income. The Commerce Department released its report on personal income and spending earlier in the day, showing that personal income increased more than expected although spending came in at its weakest level in over a year. Bargain hunters are sending technology stocks higher after they saw sharp declines in the previous session. Within the technology sector, wireless stocks are seeing particular interest, with the Amex Wireless Index climbing 1.8 percent. Steel, natural gas and defense stocks are notably higher as well. On the other hand, JC Penny (JCP) warned earlier that its first-quarter profits will be less than expected, prompting investors to sell retail stocks.
Stocks Near Session Lows Going Into Late Afternoon Trading
(RTTNews) - Stocks have dipped back into the red during mid-afternoon trading on Friday. The weakness comes after the major averages experienced buying sentiment earlier in the session, which was fueled by bargain hunting following two sessions of losses. Airline, retail and brokerage stocks are posting some of the most notable losses, with the retail sector being pushed down after JC Penny (JCP) slashing its outlook on its first-quarter earnings. On the other hand, resource, defense and technology stocks are clinging onto gains. The major averages have seen some further downside in recent trading, pulling back to new lows for the session. The Dow is currently down 27.44 at 12,275.02, while the Nasdaq is down 7.92 at 2,272.91 and the S&P 500 is down 3.91 at 1,321.85.
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