Major Averages Turning In Mixed Performance In Early Trading

(RTTNews) - After ending the previous session roughly flat, stocks are turning in a mixed performance in early trading on Thursday. While the tech-heavy Nasdaq is extending a recent uptrend, the Dow and the S&P 500 have moved to the downside.

The mixed performance on Wall Street partly reflects uncertainty about the situation in Greece, as traders continue to keep a close eye on the ongoing debt negotiations.

While many traders remain optimistic a deal will eventually be reached, news that Germany rejected Greece's proposal to extend its loan agreement raised concerns the country could exit from the eurozone.

A notable decline by shares of Wal-Mart (WMT) is weighing on the Dow, with the retail giant down by 2.5 percent after hitting a two-month low.

The loss by Wal-Mart comes after the company reported better than expected fourth quarter earnings but provided disappointing guidance. The company also announced plans to boost wages for its employees.

Most of the major sectors are showing only modest moves in early trading, although considerable strength has emerged among airline stocks. With Delta (DAL) leading the way higher, the NYSE Arca Airline Index has advanced by 1.6 percent.

On the other hand, energy stocks have come under pressure, dragging the NYSE Arca Oil & Gas Index down by 1.6 percent. The weakness in the sector comes as crude for April delivery is tumbling $2.35 to $50.47 a barrel.

Currently, the major averages remain on opposite sides of the unchanged line. While the Nasdaq is up 13.99 points or 0.3 percent at 4,920.35, the Dow is down 51.47 points or 0.3 percent at 17,978.38 and the S&P 500 is down 1.86 points or 0.1 percent at 2,097.82.