TradingMarkets Mid-Day Movers
The major averages are
regaining some ground going into afternoon trading on Friday, with
stocks moving back to the upside after coming under pressure
earlier in the session. The recovery attempt is partly due to
strength among energy and gold stocks.
Nonetheless, continued
weakness among airline, financial, and housing stocks is helping
to keep the major averages in negative territory.
Crude prices continue to move
higher currently up 1.1% to $61.61 a barrel. Gold and silver
are reaching new 9-month highs with gold up 1% to $690.40 an ounce
and silver up 2.3% to $14.58 an ounce.
Tokyo’s Nikkei Index rose to new 7-year highs,
despite an increase in interest rates announced on Thursday.
Hong Kong’s Hang Seng Index moved lower by 0.5%. Shanghai
and Taiwan exchanges are closed for the Lunar New Year holiday.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com