Major Averages Lingering Near The Unchanged Line In Early Trading

(RTTNews) - Stocks are turning in a lackluster performance in early trading on Monday after moving sharply higher last week. The major averages have bounced back and forth across the unchanged line, showing only modest moves.

The choppy trading on Wall Street comes as traders are sticking to the sidelines amid the Columbus Day holiday and a lack of major U.S. economic data.

Traders may also be reluctant to make any significant moves as the earnings season is due to pick up steam in the coming days.

Most of the major sectors are showing only modest moves, although significant weakness has emerged among railroad stocks. Reflecting the weakness in the sector, the Dow Jones Railroads Index is down by 2.2 percent.

Energy, computer hardware, and gold stocks have also moved to the downside, while strength is visible among airline and utilities stocks.

Currently, the major averages are turning in a mixed performance. While the Dow is up 5.15 points or less than a tenth of a percent at 17,089.64, the Nasdaq is down 5.95 points or 0.1 percent at 4,824.52 and the S&P 500 is down 2.19 points or 0.1 percent at 2,012.70.