Major Averages Turn Mixed In Early Trading

(RTTNews) - Stocks are turning in a lackluster performance in morning trading on Monday after showing a strong move to the upside last week. The major averages have been unable to sustain any significant moves, bouncing back and forth across the unchanged line.

The choppy trading on Wall Street partly reflects uncertainty about the near-term outlook for the markets following the volatility seen over the past few weeks.

The upward move shown by stocks last week partly offset the recent pullback by the markets, although the major averages remain well off their recent highs.

Traders may also be staying on the sidelines as they wait for more meaningful earnings news before making any significant moves.

Most of the major sectors are showing only modest moves, although gold stocks have come under pressure amid a decrease by the price of the precious metal.

Currently, the major averages are turning in a mixed performance. While the Nasdaq is down 4.61 points or 0.1 percent at 4,090.90, the Dow is up 12.90 points or 0.1 percent at 16,421.44 and the S&P 500 is up 0.64 points or less than a tenth of a percent at 1,865.49.