After showing a lack of direction throughout much of the previous session, stocks are turning in another lackluster performance during trading on Tuesday. The major averages have had difficulty sustaining any significant moves on the day.
The choppy trading comes as many traders remain away from their desks following the Christmas Day holiday last Friday and ahead of the New Year's Day holiday this Friday. Investors have largely shrugged off the latest data on home prices and consumer confidence.
Despite the lack of direction being shown by the broader markets, significant weakness has emerged among electronic storage stocks. The NYSE Arca Disk Drive Index is currently down by 1.2 percent, pulling back further off the one and half year closing high set last Thursday.
Airline stocks are also pulling back further off their recent highs amid concerns that the past weekend's attempted terrorist attack could impact air travel. On the other hand, some defense stocks are posting notable gains on optimism about spending on increased security measures.
The major averages are currently turning in a mixed performance, with the Dow holding onto a modest gain. While the Dow is currently up 7.55 at 10,554.63, the Nasdaq is down 3.12 at 2,287.96 and the S&P 500 is down 0.60 at 1,127.18.
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