Major Averages Climb Off Lows But Remain In The Red

(RTTNews) - Stocks have turned mostly negative over the course of the trading day on Friday after failing to sustain an initial upward move. With the downturn, the Dow and the S&P 500 are pulling back further off their recent record highs.

Trucking stocks are turning in some of the market's worst performances on the day, dragging the Dow Jones Trucking Index down by 1.3 percent. With the loss, the index is pulling back further off the record closing high it set Christmas Eve.

Quality Distribution (QLTY) and YRC Worldwide (YRCW) are posting notable losses within the trucking sector, falling by 2.7 percent and 2.3 percent, respectively.

Significant weakness has also emerged among computer hardware stocks, as reflected by the 1.1 percent loss being posted by the NYSE Arca Computer Hardware Index. The index has been trending lower since setting a record closing high last Friday.

Steel, airline, and railroad stocks are also seeing notable weakness, while gold stocks have shown a strong move to the upside on the day.

The major averages have climbed off their lows for the session in recent trading but currently remain in the red. The Dow is down 11.59 points or 0.1 percent at 17,811.48, the Nasdaq is down 16.80 points or 0.4 percent at 4,719.25 and the S&P 500 is down 3.10 points or 0.2 percent at 2,055.80.