Major Averages Turning In Mixed Performance In Mid-Day Trading

(RTTNews) - Stocks have shown a lack of direction over the course of the trading day on Wednesday, as traders seem reluctant to make any significant moves following the upward trend that was shown by the markets over the past two weeks.

Most of the major sectors are showing only modest moves on the day, contributing to the lack of direction being shown by the broader markets.

Banking stocks are seeing notable weakness, however, with the KBW Bank Index down by 1.6 percent in mid-day trading. The index is giving back some ground after ending the previous session at its best closing level in nearly five years.

Railroad and steel stocks have also moved to the downside on the day, while strength is visible among semiconductor, telecom, and biotech stocks.

The major averages are currently turning in a mixed performance, although they are all showing only modest moves. While the Nasdaq is up 3.13 points or 0.1 percent at 3,507.39, the Dow is down 29.22 points or 0.2 percent at 15,271.12 and the S&P 500 is down 3.06 points or 0.2 percent at 1,649.26.