News Column

Major Averages Posting Modest Losses In Mid-Day Trading

June 3, 2014

WASHINGTON (Alliance News) - While selling pressure has remained relatively subdued, stocks are seeing modest weakness in mid-day trading on Tuesday. The pullback on the day comes on the heels of the upward trend shown by the markets over the past several sessions.

Profit taking has likely contributed to the modest weakness on Wall Street, with the Dow and the S&P 500 giving back some ground after ending yesterday's trading at new record closing highs.

Activity has remained light however, as traders seem reluctant to make any significant moves ahead of the European Central Bank meeting on Thursday and the release of the closely watched monthly US jobs report on Friday.

A majority of the major sectors have moved to the downside on the day, although most are showing only modest moves.

Railroad stocks are seeing notable weakness in mid-day trading, however, with the Dow Jones Railroads Index down by 1.2%. The index is giving back some ground after ending the previous session at a record closing high.

Software, brokerage, and gold stocks are also seeing some weakness on the day, while modest strength is visible among semiconductor stocks.

The major averages have recently climbed off their lows for the session but remain in the red. The Dow is down 22.47 points or 0.1% at 16,721.16, the Nasdaq is down 9.96 points or 0.2% at 4,227.24 and the S&P 500 is down 2.29 points or 0.1% at 1,922.68.

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Source: Alliance News

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