Major Averages Posting Modest Gains In Mid-Day Trading

(RTTNews) - While buying interest has remained subdued, stocks are seeing modest strength in mid-day trading on Monday. The slim gains on the day are extending the upward trend shown by the markets over the past two weeks.

Many of the major sectors are showing only modest moves on the day, although considerable strength is visible among natural gas stocks. Reflecting the strength in the sector, the NYSE Arca Natural Gas Index is advancing by 1.4 percent.

The gains by natural gas stocks come as natural gas for February delivery is climbing $0.066 to $3.099 per million BTUs.

Utilities stocks are also turning in a strong performance on the day, as reflected by the 1.1 percent gain being posted by the Dow Jones Utilities Average. With the gain, the average has risen to a new record intraday high.

While strength is also visible among steel, banking, and oil service stocks, gold stocks have moved to the downside along with the price of the precious metal.

The major averages have moved roughly sideways in recent trading, hovering just above the unchanged line. The Dow is up 8.34 points or 0.1 percent at 18,062.05, the Nasdaq is up 5.17 points or 0.1 percent at 4,821.03 and the S&P 500 is up 4.43 points or 0.2 percent at 2,093.20.