(RTTNews) - Stocks are continuing to show a lack of direction in early afternoon trading on Tuesday as traders digest a mixed batch of economic news. The major averages are turning in a mixed performance, remaining on opposite sides of the unchanged mark by moderate margins.

On the economic front, consumer confidence unexpectedly deteriorated in the month of October, according to a report released by the Conference Board, with the consumer confidence index showing a notable decline amid continued concerns about labor market conditions.

Separately, a report from Standard and Poor's showed a continued decrease in home prices in the month of August, although the pace of the annual rate of decline slowed by even more than economists had been expecting.

In earnings news, Valero Energy (VLO), U.S. Steel (X) and Honda Motor Co. (HMC), among others, reported by and large a mixed batch of quarterly results.

The major averages have seen choppy movement in recent trading, seeing little change entering the second half of the session. While the Dow is currently up 37.03 at 9,904.99, the Nasdaq is down 13.71 at 2,128.14 and the S&P 500 is down 0.18 at 1,066.77.

Sector News
Steel stocks are moving notably lower, as reflected by the 2.7 percent loss currently being shown by the NYSE Arca Steel Index, which is moving lower for a fourth straight session. Earlier, the index was at its worst intraday level in nearly three weeks, moving further off of the one-year closing high set earlier this month.

AK Steel (AKS) is under pressure, sliding by 7.6 percent and setting a three and a half month intraday low. The company reported third-quarter net income of $0.06 per share, compared to net income $1.67 per share in the same quarter of 2008. Wall Street analysts expected the company to report earnings of $0.01 per share for the quarter.

Railroad and healthcare provider stocks are also seeing considerable weakness, with the Dow Jones Railroads Index currently down 2.8 percent. With the loss, the index is extending a recent downward move, pulling back further off the nearly one-year closing high set last Monday.

Semiconductor, internet and computer hardware stocks are also posting notable losses, reflecting a pullback in the tech sector.

Meanwhile, health insurance stocks continue to post strong gains, with the Morgan Stanley Healthcare Payor Index climbing by 2.3 percent. The index is bouncing off of the three-month closing low it set in the previous session.

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