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Stocks Turning In Another Mixed Performance - U.S. Commentary

Stocks Turning In Another Mixed Performance - U.S. Commentary
1/29/2013 11:11 AM ET

Stocks are turning in a mixed performance in late morning trading on Tuesday. The major averages have moved in opposite directions after trending higher in recent sessions.

Notable weakness among technology stocks has helped to drag the tech-heavy Nasdaq firmly into negative territory.

Computer hardware stocks are turning in some of the worst performances, dragging the NYSE Arca Computer Hardware Index down by 3.8 percent. Lexmark (LXK) is posting a particularly steep loss after reporting weaker than expected fourth quarter earnings and providing disappointing guidance.

Networking and internet stocks have also come under pressure on the day, moving lower along with healthcare provider stocks.

On the other hand, oil stocks have shown a strong move to the upside, resulting in a 2 percent gain by the NYSE Arca Oil Index. Hess (HES) and Valero Energy (VLO) are posting standout gains.

Housing, steel, and brokerage stocks are also seeing notable strength, offsetting the weakness seen in the sectors mentioned above.

Currently, the Dow and the S&P 500 are posting modest gains, while the Nasdaq is stuck in the red. While the Nasdaq is down 9.40 points or 0.3 percent at 3,145.04, the Dow is up 36.82 points or 0.3 percent at 13,918.75 and the S&P 500 is up 2.17 points or 0.1 percent at 1,502.35.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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