Major Averages Posting Modest Gains In Early Trading

(RTTNews) - With traders reluctant to make any significant moves amid an abbreviated trading session, stocks are turning in a lackluster performance in early trading on Tuesday. The major averages are lingering near the unchanged line, although the Dow and the S&P 500 have still managed to set new record highs.

The choppy trading on Wall Street comes as many investors are staying on the sidelines ahead of the early close for the markets at 1 pm ET. The Christmas Day holiday on Wednesday is also keeping traders away from their desks.

Traders are also digesting a mixed batch of economic data, as a pair of reports from the Commerce Department showed a sharp jump in durable goods orders but a decrease in new home sales.

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

Gold stocks are seeing some strength, however, with an increase by the price of the precious metal generating some buying interest.

Currently, the major averages are posting modest gains on the day. The Dow is up 28.80 points or 0.2 percent at 16,323.41, the Nasdaq is up 1.80 points or less than a tenth of a percent at 4,150.71 and the S&P 500 is up 2.65 points or 0.1 percent at 1,830.64.