In recent trading, the major averages have bounced off their lows for the young session, but they remain in the red. The Dow is down 34.80 points or 0.2% at 16,908.30, the Nasdaq is down 10.56 points or 0.2% at 4,325.68 and the S&P 500 is down 4.63 points or 0.2% at 1,946.64.
The early weakness on
The Dow and the S&P 500 are pulling back off the record closing highs set on Monday, while the Nasdaq is moving lower after ending the previous session at its best levels in three months.
Nonetheless, traders seem somewhat reluctant to make any significant moves amid another quiet day on the US economic front.
The report said wholesale inventories surged up by 1.1% in April, matching the increase seen in the previous month. Economists had expected inventories to increase by about 0.5%.
News out of
Airline stocks are seeing notable weakness, however, with the NYSE Arca Airline Index falling by 1.2%. With the loss, the index is pulling back further off the twelve-year closing high that it set last Friday.
Brokerage, electronic storage, and steel stocks are also seeing early weakness, while most of the other major sectors have shown more modest moves to the downside.
Among individual stocks, shares of
On the other hand, shares of
In overseas trading, stock markets across the
Meanwhile, the major European markets have moved modestly lower on the day. While the German DAX Index is just below the unchanged line, the French CAC 40 Index and the
In the bond market, treasuries are extending a recent downward trend with a moderate move to the downside. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.3 basis points at 2.646%.
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