Major Averages Lingering Near The Unchanged Line In Early Trading

(RTTNews) - After coming under pressure in the latter part of the previous session, stocks are turning in a lackluster performance in early trading on Tuesday. The major averages are showing only modest moves, lingering near the unchanged line.

The choppy trading on Wall Street comes as traders are looking ahead to the release of some closely watched economic data on Wednesday, including reports on retail sales, consumer prices, and existing home sales.

The reports could have a significant impact on expectations regarding when the Federal Reserve will begin scaling back its asset purchase program.

In light of the focus on the outlook for the Fed's stimulus program, traders are also likely to keep a close eye on remarks by Fed Chairman Ben Bernanke, who is due to speak at the National Economists Club's annual dinner in Washington at 7 pm ET.

Most of the major sectors are showing only modest moves in early trading, although some strength is visible among airline stocks. United (UAL) is leading the sector higher after outlining a plan to reduce costs by $2 billion annually.

Banking stocks are also seeing some early strength, while weakness has emerged among tobacco, trucking, and oil service stocks.

Currently, the major averages are turning in a mixed performance. While the S&P 500 is down 0.71 points or less than a tenth of a percent at 1,790.82, the Dow is up 14.13 points or 0.1 percent at 15,990.15 and the Nasdaq is up 2.66 points or 0.1 percent at 3,951.72.