News Column

Major Averages Posting Modest Gains In Early Trading

June 25, 2014

WASHINGTON (Alliance News) - After moving lower at the open, stocks have shown a lack of direction over the course of early trading on Wednesday. The major averages have bounced back and forth across the unchanged line after ending the previous session firmly in the red.

The initial weakness on Wall Street was partly due to the release of disappointing US economic data, including a Commerce Department report showing a substantial downward revision to first quarter GDP.

Selling pressure waned not long after the start of trading, however, with a separate report showing a faster rate of growth in the service sector helping to limit the downside.

The choppy trading seen since then partly reflects uncertainty about the near-term outlook for the markets following the recent move to the record highs.

Most of the major sectors are showing only modest move, contributing to the lackluster performance by the broader markets.

While some strength is visible among chemical and healthcare provider stocks, oil and electronic storage stocks have moved to the downside.

Currently, the major average are posting modest gains on the day, The Dow is up 25.48 points or 0.2% at 16,843.61, the Nasdaq is up 5.83 points or 0.1% at 4,356.19 and the S&P 500 is up 2.12 points or 0.1% at 1,952.10.

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Source: Alliance News

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