Major Averages Remain Stuck In Negative Territory

(RTTNews) - After moving lower early in the session, stocks continue to see modest weakness in mid-day trading on Monday. Selling pressure has remained relatively subdued, however, limiting the downside for the broader markets.

The modest weakness on Wall Street is partly due to concerns about the situation in Greece, which remains in debt negotiations with the other countries in the eurozone.

In a speech to parliament, new Greek Prime Minister Alexis Tsipras reiterated his pre-election pledge to roll back austerity and reject an extension of the international bailout.

Most of the major sectors are showing only modest moves on the day, although considerable weakness is visible among airline stocks.

Reflecting the weakness in the airline sector, the NYSE Arca Airline Index has tumbled by 2.3 percent. United Continental (UAL), Alaska Air (ALK), and JetBlue (JBLU) are posting notable losses.

On the other hand, gold and energy stocks are seeing considerable strength, moving higher along with commodities prices.

Currently, the major averages remain stuck below the unchanged line. The Dow is down 46.77 points or 0.3 percent at 17,777.52, the Nasdaq is down 2.40 points or 0.1 percent at 4,742.00 and the S&P 500 is down 2.19 points or 0.1 percent at 2,053.28.