Major Averages Posting Modest Losses In Early Trading

(RTTNews) - Stocks are turning in another lackluster performance in early trading on Tuesday after ending the previous session roughly flat. The major averages moved to the downside at the start of trading but have climbed well off their lows for the young session since then.

The initial weakness on Wall Street was partly due to profit taking, as traders cashed in on some of the recent strength in the markets after the Dow ended yesterday's trading at another new record closing high.

Selling pressure waned not long after the open, however, as traders remain reluctant to make any significant moves amid another quiet day on the U.S. economic front.

Most of the major sectors are showing only modest moves in early trading, contributing to the lack of direction being shown by the broader markets.

While some strength has emerged among networking and electronic storage, weakness is visible in the oil service, steel, and biotech sectors.

The major averages are currently posting modest losses but remain well off their worst levels. The Dow is down 3.18 points or less than a tenth of a percent at 15,779.92, the Nasdaq is down 4.97 points or 0.1 percent at 3,914.81 and the S&P 500 is down 2.33 points or 0.1 percent at 1,769.56.