Major Averages Continue To Turn In Mixed Performance

(RTTNews) - With traders digesting a mixed batch of earnings news, stocks are turning in another lackluster performance during trading on Wednesday. The choppy trading extends the trend seen over the past several sessions.

While most of the major sectors are showing only modest moves, considerable strength is visible among railroad stocks. Reflecting the strength in the railroad sector, the Dow Jones Railroad Index has advanced by 1.4 percent.

Norfolk Southern (NSC) has helped to lead the railroad sector higher, jumping by 5.6 percent after reporting better than expected fourth quarter results.

Natural gas stocks are also turning in a strong performance on the day, moving higher along with the price of natural gas. With natural gas for February delivery climbing $0.181 to $4.612 per million BTUs, the NYSE Arca Natural Gas Index is up by 1.2 percent.

Airline and housing stocks are also seeing notable strength in mid-day trading, with the NYSE Arca Airline Index and the Philadelphia Housing Sector Index up by 1.2 percent and 1.1 percent, respectively.

Meanwhile, gold stocks have come under significant selling pressure, dragging the NYSE Arca Gold Bugs Index down by 2 percent. The weakness among gold stocks comes amid a modest decrease by the price of the precious metal.

The major averages currently continue to turn in a mixed performance, with the Nasdaq posting a modest gain. While the Nasdaq is up 10.73 points or 0.3 percent at 4,236.49, the Dow is down 57.28 points or 0.4 percent at 16,357.16 and the S&P 500 is down 1.19 points or 0.1 percent at 1,842.61.