News Column

Major Averages Turning In Mixed Performance In Mid-Day Trading

June 30, 2014

WASHINGTON (Alliance News) - With traders seemingly reluctant to make any significant moves, stocks have shown a lack of direction throughout the trading day on Monday. The major averages have spent the day bouncing back and forth across the unchanged line.

The choppy trading on Wall Street partly reflects continued uncertainty about the outlook for the markets ahead of the release of some key economic data later in the week.

Traders are likely to keep a close eye on the Labor Department's monthly jobs report, which is scheduled to be released on Thursday due to the holiday on Friday.

Reports on manufacturing and service sector activity, private sector employment, and international trade may also attract some attention in the coming days.

Most of the major sectors are showing only modest moves in mid-day trading, contributing to the lack of direction being shown by the broader markets.

While some strength is visible among railroad, semiconductor, and housing stocks, defense and commercial real estate stocks have moved to the downside on the day.

Currently, the major averages are turning in a mixed performance. While the Dow is down 16.82 points or 0.1% at 16,835.02, the Nasdaq is up 9.41 points or 0.2% at 4,407.34 and the S&P 500 is up 0.26 points or less than a tenth of a % at 1,961.22.

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Source: Alliance News

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