2/15/2012 11:16 AM ET
(RTTNews) - With many traders staying on the sidelines, stocks are turning in a lackluster performance during trading on Wednesday. The major averages continue to turn in a mixed performance on the day after ending the previous session nearly flat.
The choppy trading comes as traders continue to keep a close eye on developments overseas amid lingering uncertainty about the financial situation in Europe.
While remarks from Chinese officials indicating that the country will continue to invest in European government debt to help resolve the debt crisis have generated some buying interest, traders are also digesting news indicating that the second Greek bailout will be delayed.
Nonetheless, significant strength is visible among health insurance stocks, as reflected by the 2.2 percent gain being posted by the Morgan Stanley Healthcare Payor Index. WellCare (WCG) is leading the sector higher after forecasting 2012 earnings above analyst estimates.
Electronic storage, semiconductor, and networking stocks are also seeing considerable strength, helping to keep the tech-heavy Nasdaq in positive territory. On the other hand, steel, oil service, and trucking stocks have come under pressure on the day.
The major averages have moved roughly sideways in recent trading, stuck on opposite sides of the unchanged line. While the Dow is down 39.59 points or 0.3 percent at 12,838.69, the Nasdaq is up 15.71 points or 0.5 percent at 2,947.54 and the S&P 500 is up 1.10 points or 0.1 percent at 1,351.60.
by RTT Staff Writer
For comments and feedback: editorial@rttnews.com