Major Averages Lingering Near The Unchanged Line In Early Trading

(RTTNews) - Stocks are turning in a lackluster performance in early trading on Friday after turning higher over the course of the previous session. The major averages are showing only modest moves, lingering near the unchanged line.

The choppy trading on Wall Street comes as traders express some uncertainty about the outlook for the markets following the volatility seen over the past few weeks.

With the upward move seen in recent sessions, the markets have partly offset the sell-off seen in late January. While the Dow remains well off its record highs, the tech-heavy Nasdaq has climbed within striking distance of the thirteen-year highs it set last month.

Traders also continue to digest a recent batch of disappointing economic data that was seemingly distorted by the severe winter weather.

A report released before the start of trading this morning showed an unexpected drop in industrial production, although the Federal Reserve noted that the weather curtailed manufacturing production in some regions of the country. Most of the major sectors are showing only modest moves in early trading, although substantial strength has emerged among gold stocks. The NYSE Arca Gold Bugs Index has surged up by 3.7 percent, benefiting from a jump by the price of gold.

Currently, the major averages are turning in a mixed performance, with the Nasdaq posting a modest loss. While the Nasdaq is down 3.54 points or 0.1 percent at 4,237.13, the Dow is up 28.48 points or 0.2 percent at 16,056.07 and the S&P 500 is up 2.10 points or 0.1 percent at 1,831.93.