India, May 16 -- After an initial move to the upside, stocks have shown a lack of direction over the course of the trading session on Friday. The major averages have been bouncing back and forth across the unchanged line after closing mixed for two straight days.
Currently, the major averages are narrowly mixed. While the Nasdaq is down 6.42 points or less than a tenth of a percent at 19,105.90, the Dow is up 29.55 points or 0.1 percent at 42,352.30 and the S&P 500 is up 4.00 points or 0.1 percent at 5,920.93.
Despite the choppy trading on the day, the S&P 500 remains poised to post a strong gain for the week, with the index currently up by 4.6 percent.
Traders have recently been encouraged by Monday's news of a U.S.-China trade deal tem...