Stocks have shown a lack of direction over the course of the trading day on Friday, with the major averages bouncing back and forth across the unchanged line after closing higher for five consecutive sessions.
Currently, the major averages are narrowly mixed. While the S&P 500 is up 0.51 points or less than a tenth of a percent at 6,932.56, the Dow is down 24.89 points or 0.1 percent at 48,706.27 and the Nasdaq is down 16.60 points or 0.1 percent at 23,596.71.
The lackluster performance on Wall Street comes as many traders remain away from their desks following the Christmas Day holiday on Thursday, leading to below average trading activity.
Traders may also be reluctant to make significant moves following the recent upward trend, which lifted the Dow and S&P 500 to new record closing highs.
Looking ahead, overall trading activity may remain somewhat subdued next week due to the New Year’s Day holiday on Thursday.
Reports on weekly jobless claims and pending home sales may still attract attention along with the minutes of the Federal Reserve’s latest monetary policy meeting.
Reflecting the lackluster performance by the broader markets, most of the major sectors are showing only modest moves on the day.
Airline and computer hardware stocks are seeing some weakness, although selling pressure remains subdued.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher on Friday, with several markets in the region closed for the holidays. Japan’s Nikkei 225 Index added 0.7 percent, while China’s Shanghai Composite Index inched up by 0.1 percent.
Meanwhile, the major European markets remained closed on the day.
In the bond market, treasuries are extending the upward move seen over the course of the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.4 basis points at 4.122 percent.
Business News
U.S. Stocks Turning In Lackluster Performance Following Recent Strength
2025-12-26 15:10:38
