Major Averages Turning In A Mixed Performance In Mid-Day Trading

(RTTNews) - After recovering from an initial move to the downside, stocks have shown a lack of direction over the course of the trading day on Tuesday. The choppy trading comes on the heels of the notable pullback seen in the previous session.

The lackluster performance on Wall Street comes as traders are expressing some uncertainty about the near-term outlook for the markets.

A positive reaction to the Federal Reserve's monetary policy announcement lifted the Dow and the S&P 500 to record highs last week, but the next major catalyst for the markets is currently unknown.

Reflecting the lack of direction being shown by the broader markets, most of the major sectors are showing only modest moves in mid-day trading.

Gold stocks have shown a strong move to the upside, however, with the NYSE Arca Gold Bugs Index advancing by 1.4 percent. The index is regaining some ground after ending the previous session at an eight-month closing low.

The rebound by gold stocks comes amid an increase by the price of the precious metal, as gold for December delivery is climbing $5.70 to $1,223.60 an ounce.

Oil service stocks are also seeing some strength amid an increase by the price of crude oil, while weakness is visible among tobacco and defense stocks.

Currently, the major averages continue to turn in a mixed performance. While the Nasdaq is up 2.64 points or 0.1 percent at 4,530.33, the Dow is down 24.72 points or 0.1 percent at 17,147.96 and the S&P 500 is down 1.78 points or 0.1 percent at 1,992.51.