After failing to sustain an early downward, stocks are turning in a lackluster performance in early afternoon trading on Monday. The major averages are currently mixed after closing lower in the four previous weeks.
The lack of direction being shown by the markets comes amid a lack of significant economic news as well as a light day on the earnings front. With the earnings season winding down, Hasbro (HAS) and CVS Caremark (CVS) are among the few well knows companies that have reported their quarterly results.
Traders subsequently appear to be staying on the sidelines, waiting for indications of the outlook for the markets following the recent correction. Some traders may be looking ahead to the release of some key economic data later in the week.
Along with the closely watched retail sales report for the month of January due to be released on Thursday, traders are also likely to keep an eye on reports on weekly jobless claims, business inventories, and consumer sentiment.
In corporate news, CIT Group (CIT) is currently up 2.5 percent after the company said it appointed former Merrill Lynch CEO John Thain as its Chairman and CEO. Thain will replace Peter Tobin, who was appointed on an interim basis after long-time CEO Jeffrey Peek resigned on January 15th.
The major averages currently remain on opposite sides of the unchanged line, with the Dow posting a modest loss. The Dow is currently down 11.48 at 10,000.75, while the Nasdaq is up 7.54 at 2,148.66 and the S&P 500 is up 2.29 at 1,068.48.
Sector News
While most of the major sectors are showing only modest moves, significant strength is visible among housing stocks. Strong gains by Lennar (LEN), Standard Pacific (SPF), and MDC Holdings (MDC) are contributing to a 2.3 percent gain by the Philadelphia Housing Sector Index.
Semiconductor stocks are also seeing notable strength in early afternoon trading, as reflected by the 1.5 percent gain currently being shown by the Philadelphia Semiconductor Index. With the gain, the index is moving further off the two-month closing low set last Thursday.
Electronic storage, airline, and health insurance stocks have also moved higher over the course of the trading day, although buying interest has remained somewhat subdued.
At the other end of the spectrum, gold stocks continue to post notable losses, resulting in a 1.4 percent loss by the NYSE Arca Gold Bugs Index. The weakness in the gold sector comes in spite of a notable increase by the price of the precious metal.
Stocks In The News
Hasbro has shown a strong upward move on the day, with the toy maker breaking out of a recent trading range with a 13.6 percent gain. With the gain, shares of Hasbro have jumped to their best intraday level in well over a year.
The gain by Hasbro comes after the company reported fourth quarter earnings that surged up 77 percent to $165.56 million or $1.09 per share from $93.58 million or $0.62 per share in the year-ago quarter. Analysts had expected the company to earn $0.81 per share.
Shares of CVS Caremark are also turning in a strong performance after the drug store operator reported fourth quarter adjusted earnings and revenues that exceeded analyst estimates. CVS Caremark is currently up 6.3 percent after ending the previous session at a nearly two-month closing low.
On the other hand, shares of SAP AG (SAP) are currently down 3.4 percent after the company announced the resignation of CEO Leo Apotheker, who will be replaced by two Co-CEOs, Bill McDermott and Jim Hagemann Snabe.
Other Markets
In overseas trading, economic uncertainty contributed to weakness is most of the markets in the Asia-Pacific region, with Japan's Nikkei 225 falling by 1.1 percent and Hong Kong's Hang Seng Index closing down by 0.6 percent.
Meanwhile, the major European markets all ended the day higher after seeing some volatility over the course of the session. The French CAC 40 Index and the German DAX Index rose 1.2 percent and 0.9 percent, respectively, while the U.K.'s FTSE 100 Index closed up by 0.6 percent.
In the bond markets, treasuries continued to see moderate weakness after showing a strong upward move in the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is currently up 4.6 basis points at 3.592 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.