Major Averages Just Above Unchanged Line In Mid-Day Trading

(RTTNews) - Extending the lackluster performance seen throughout the previous session, stocks have shown a lack of direction over the course of the trading day on Tuesday. The choppy trading comes as traders look ahead to tomorrow's monetary policy announcement from the Federal Reserve.

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

Brokerage stocks continue to see significant strength, however, with the NYSE Arca Broker/Dealer Index surging up by 1.9 percent. With the gain, the index has reached its best intraday level in over two months.

E*Trade (ETFC), Charles Schwab (SCHW), and TD Ameritrade (AMTD) are turning in some of the brokerage sector's best performances.

Banking, airline, and steel stocks are also seeing some strength in mid-day trading, although buying interest has remained subdued.

Meanwhile, oil stocks have moved to the downside on the day, giving back some ground after moving notably higher over the past few sessions.

Currently, the major averages are just above the unchanged line. The Dow is up 5.41 points or less than a tenth of a percent at 16,786.42, the Nasdaq is up 13.42 points or 0.3 percent at 4,334.53 and the S&P 500 is up 1.27 points or 0.1 percent at 1,939.05.