Major Averages Lingering Near Unchanged Line In Early Trading

(RTTNews) - Stocks are turning in a lackluster performance in early trading on Monday, extending the trend that was seen throughout the previous week. The major averages are lingering near the unchanged line, showing only modest moves.

The choppy trading on Wall Street comes as traders are staying on the sidelines ahead of some key events later in the week.

Traders are particularly focused on the outcome of the Federal Reserve's two-day monetary policy meeting that begins on Tuesday.

Along with the Fed meeting, traders will also be keeping a close eye on the monthly jobs report as well as the initial report on second quarter GDP.

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

Healthcare provider stocks are seeing significant strength, however, with the Morgan Stanley Healthcare Provider Index up by 1.8 percent. Health Management Associates (HMA) is leading the sector higher, surging up by 7 percent.

The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest gain. While the Nasdaq is up 4.30 points or 0.1 percent at 3,617.46, the Dow is down 4.07 points or less than a tenth of a percent at 15,554.76 and the S&P 500 is down 1.33 points or 0.1 percent at 1,690.32.