Most of the major sectors continue to show only modest moves, contributing to the lack of direction being shown by the broader markets.
Gold stocks are seeing substantial weakness, however, with the NYSE Arca Gold Bugs tumbling by 3.1%. The weakness in the sector comes as gold for December delivery has plunged
Utilities, oil service, and telecom stocks are also seeing notable weakness in mid-day trading, although selling pressure has remained relatively subdued.
On the other hand, airline stocks have shown a strong move to the upside on the day, driving the NYSE Arca Airline Index up by 1.8%.
Currently, the major averages continue to turn in a mixed performance on the day. While the Nasdaq is up 6.71 points or 0.2% at 4,486.98, the Dow is down 42.77 points or 0.3% at 17,055.68 and the S&P 500 is down 3.75 points or 0.2% at 1,999.62.
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