TradingMarkets Mid-Day Movers
After failing to sustain an
early downward move, the U.S. stock markets are regaining some
ground over the course of morning trading on Friday. The major
averages have come well off their worst levels of the day, with
the Dow and the S&P 500 briefly climbing into positive territory.
Crude for April delivery is trading
flat through the morning at $61.83 per barrel. Gold is
selling off in this morning’s session currently lower by 1.5% to
$654.90 an ounce. Concerns over future demand for precious
metals continues to fuel the selloff.
Around Asia, traders are
still cautious after Tuesday’s massive decline. Shanghai’s
Composite continued to rebound finishing Friday’s session up 1.2%
and the Hang Seng rose by 0.5%. Tokyo’s Nikkei fell again by
1.4%.
The
PowerRatings
Heat Maps*
from Thursday’s close is starting to show action that has historically led to
strength in the overall markets. The strongest looking
sectors are Drugs and Computer Software.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com