Major Averages End Choppy Trading Day Mixed

(RTTNews) - With trading resuming following the long, holiday weekend, stocks showed a lack of direction throughout the trading session on Tuesday before ending the day mixed. The markets largely held on to the bulk of their recent gains.

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

Gold stocks saw substantial weakness, however, with the NYSE Arca Gold Bugs tumbling by 3.6 percent. The weakness in the sector came as gold for December delivery plunged $22.40 to $1,265 an ounce.

Natural gas, oil service, and utilities stocks also saw some weakness, although selling pressure remained relatively subdued.

On the other hand, airline stocks showed a strong move to the upside on the day, driving the NYSE Arca Airline Index up by 3 percent. With the gain, the index reached a twelve-year closing high.

Brazil's Gol Linhas (GOL) and United Continental (UAL) posted standout gains within the airline sector, jumping by 6.2 percent and 5 percent, respectively.

The major averages finished the session on opposite sides of the unchanged line. While the Nasdaq climbed 17.92 point or 0.4 percent to 4,598.19, the Dow dipped 30.89 points or 0.2 percent to 17,067.56 and the S&P 500 edged down 1.09 points or 0.1 percent to 2,002.28.