Major Averages Close Mixed After Lackluster Session

(RTTNews) - Following the sell-off seen in the previous session, stocks showed a lack of direction throughout the trading session on Tuesday. The major averages spent the day bouncing back and forth across the unchanged line, unable to sustain any significant moves.

Many of the major sectors ended the day showing only modest moves, contributing to the lackluster close by the broader markets.

Commercial real estate stocks saw substantial strength, however, with the Morgan Stanley REIT Index jumping by 2 percent. The gain by the index came after it closed lower in the three previous sessions.

Ramco-Gershenson Properties Trust (RPT), Pennsylvania Real Estate Investment Trust (PEI), and One Liberty Properties (OLP) turned in some of the sector's best performances.

Significant strength was also visible among trucking stocks, as reflected by the 1.5 percent gain posted by the Dow Jones Trucking Index. C.H. Robinson (CHRW) and Heartland Express (HTLD) posted standout gains.

On the other hand, oil service stocks came under pressure on the day, dragging the Philadelphia Oil Service Index down by 1.9 percent. The weakness in the sector came as crude oil for February delivery slid $0.79 to $35.97 a barrel.

Semiconductor, networking, and computer hardware stocks also saw some weakness, contributing to the lower close by the tech-heavy Nasdaq.

The major averages eventually ended the day mixed. While the Nasdaq dipped 11.66 points or 0.2 percent to 4,891.43, the Dow inched up 9.72 points or 0.1 percent to 17,158.66 and the S&P 500 rose 4.05 points or 0.2 percent to 2,016.71.