Major Averages Turning In Mixed Performance In Mid-Day Trading

(RTTNews) - After moving mostly higher earlier in the session, stocks are turning in a mixed performance in mid-day trading on Monday. While the Dow and the S&P 500 are holding on to gains, the tech-heavy Nasdaq has slid into negative territory.

Most of the major sectors are showing only modest moves on the day, contributing to the relatively lackluster performance being turned in by the markets.

Gold stocks are seeing substantial weakness, however, with the NYSE Arca Gold Bugs Index tumbling by 3.3 percent. With the drop, the index has fallen to its lowest intraday level in over two months.

The weakness among gold stocks comes despite an increase by the price of the precious metal, as gold for April delivery is climbing $2.60 to $1,166.90 an ounce.

Biotechnology and natural gas stocks have also moved notably lower on the day, while strength is visible among oil and telecom stocks.

Currently, the major averages remain on opposite side of the unchanged line. The Nasdaq is down 3.62 points or 0.1 percent at 4,923.75, while the Dow is up 101.84 points or 0.6 percent at 17,958.62 and the S&P 500 is up 3.89 points or 0.2 percent at 2,075.15.