Major Averages Remain Mixed In Mid-Day Trading

(RTTNews) - After moving higher at the start of trading on Tuesday, stocks have turned mixed over the course of the session. While the Nasdaq has managed to remain in positive territory, the Dow and the S&P 500 have pulled back into the red.

Despite the lackluster performance being turned in by the broader markets, oil service stocks have shown a significant move to the downside on the day. The Philadelphia Oil Service Index has tumbled by 2.3 percent, pulling back further off the four-month closing high set last Wednesday.

The weakness among oil service stocks comes amid a decrease by the price of crude oil, with crude for June delivery sliding $0.31 to $57.57 a barrel.

Railroad stocks have also come under pressure after seeing significant strength in the previous session. After surging up by 2.6 percent on Monday, the Dow Jones Railroads Index is down by 1.8 percent.

Natural gas and chemical stocks have also moved to the downside on the day, while strength is visible among biotechnology and pharmaceutical stocks.

Currently, the major averages currently remain on opposite sides of the unchanged line. The Nasdaq is up 19.31 points or 0.4 percent at 5,013.92, while the Dow is down 73.07 points or 0.4 percent at 17,961.86 and the S&P 500 is down 2.66 points or 0.1 percent at 2,097.74.