TradingMarkets Mid-Day Movers
After closing higher in the
three previous sessions, stocks are seeing some weakness in late
morning trading on Friday. Selling pressure has remained subdued,
however, as traders are wary of missing out on any further upside.
While a majority of the
major sector indices are in negative territory, most are posting
only modest losses. Nonetheless, considerable weakness is visible
in the gold, housing, brokerage, and biotechnology sectors.
The limited downside for the
markets also comes as some traders are away from their desks,
getting a head start of the long weekend. Tame inflation data
released before the start of trading has also helped to keep
selling pressure subdued.
Crude moves higher by 1% to $58.55, despite
forecasts calling for warmer weather. Gold for April
delivery is off by nearly 1% to $668.00 an ounce.
Our
Daily Market Bias page has been updated with new indicators to
determine if there is a strong bias for the market to move higher
(or lower) the following day. These tables can help you to
pinpoint market conditions that have historically led to
significant up or down moves over the next 1 to 5 days.Â
Click here for more information on our Daily Market Bias
indicators.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com