Major Averages Showing Modest Moves In Early Trading

(RTTNews) - After moving notably higher last week, stocks are turning in a lackluster performance in early trading on Monday. The major averages are showing only modest moves, although the Dow and the S&P 500 remain near record highs.

The choppy trading on the sidelines comes as many traders remain on the sidelines following the Christmas Day holiday last Wednesday and the upcoming New Year's Day holiday.

While window dressing sometimes contributes to upward momentum for the markets in the final days of the year, investors may be reluctant to continue buying stocks following the recent strength.

On the economic front, the National Association of Realtors recently released a report showing a much smaller than expected increase in pending home sales in the month of November.

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

Currently, the major averages are turning in a mixed performance, with the Dow posting a slim gain. The Dow is up 4.49 points or less than a tenth of a percent at 16,482.90, while the Nasdaq is down 6.44 points or 0.2 percent at 4,150.16 and the S&P 500 is down 0.86 points or 0.1 percent at 1,840.54.