Stocks are turning in a lackluster performance in early trading on Monday after showing a strong move to the upside in the previous session. The major averages are showing only modest moves amid relatively light trading activity.
The choppy trading on Wall Street comes as traders are expressing some uncertainty about the near-term outlook for the markets following last Friday's rally, which drove the major averages to their best closing levels in over a month.
Trading activity also remains subdued ahead of the Independence Day holiday on Wednesday. Traders are also looking ahead to key employment data later in the week.
Most of the major sectors are showing only modest moves, reflecting the lack of direction being shown by the broader markets.
Nonetheless, notable weakness has emerged among natural gas stocks, as reflected by the 1.1 percent loss being posted by the NYSE Arca Natural Gas Index. The loss by index comes after it ended Friday's trading at its best closing level in well over a month.
The major averages are currently turning in a mixed performance, with the Dow just below the unchanged line. While the Dow is down 1.70 points or less than a tenth of a percent at 12,878.39, the Nasdaq is up 4.93 points or 0.2 percent at 2,939.98 and the S&P 500 is up 1.72 points or 0.1 percent at 1,363.88.
by RTT Staff Writer
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