Major Averages Lingering Near The Unchanged Line

(RTTNews) - After moving modestly lower in early trading, stocks have fluctuated over the course of the trading day on Friday. The major averages have spent the day bouncing back and forth across the unchanged line after falling sharply over the two previous sessions.

While most of the major sectors are showing only modest moves in mid-day trading, considerable weakness remains visible among biotechnology stocks. Reflecting the weakness in the biotech sector, the NYSE Arca Biotechnology Index is down by 1.3 percent.

InterMune (ITMN) and Incyte (INCY) are turning in two of the biotech sector's worst performances, falling by 4.1 percent and 4.4 percent, respectively.

Networking stocks are also seeing continued weakness, with the NYSE Arca Networking Index down by 1.1 percent. Alcatel-Lucent (ALU) has helped to lead the sector lower, tumbling by 3.5 percent.

On the other hand, railroad stocks have shown a strong move to the upside on the day, driving the Dow Jones Railroads Index up by 1.3 percent. The index is currently poised to end the session at a record closing high.

Within the railroad sector, Kansas City Southern (KSU) is posting a standout gain after Bank of America raised its rating on the company's stock to Buy from Neutral.

Currently, the major averages are turning in a mixed performance. While the Nasdaq is down 7.27 points or 0.2 percent at 4,062.02, the Dow is up 6.20 points or less than a tenth of a percent at 16,453.01 and the S&P 500 is up 0.95 points 0.1 percent at 1,871.80.