Major Averages Posting Modest Gains In Early Trading

(RTTNews) - After trending higher in recent sessions, stocks are turning in a lackluster performance in early trading on Friday. The major averages are showing only modest moves, although the Dow and the S&P 500 still managed to reach new record intraday highs.

The choppy trading on Wall Street comes as traders seem reluctant to make any significant moves, taking a breather following the recent move to the upside.

Stocks are largely holding on to their recent gains, however, with Janet Yellen's dovish comments helping to support the markets.

Most of the major sectors are showing only modest moves, although networking stocks are seeing considerable strength after ending the previous session sharply lower.

The NYSE Arca Networking Index has advanced by 1 percent, partly offsetting yesterday's 2.3 percent loss. Juniper Networks (JNPR) and Alcatel-Lucent (ALU) are posting notable gains.

Biotechnology and telecom stocks are also seeing some early strength, while weakness is visible among electronic storage stocks.

Currently, the major averages are posting modest gains. The Dow is up 35.08 points or 0.2 percent at 15,911.30, the Nasdaq is up 0.36 points or less than a tenth of a percent at 3,973.10 and the S&P 500 is up 1.38 points or 0.1 percent at 1,792.00.