Stocks have shown a lack of direction in early trading on Thursday, with the major averages lingering near the unchanged line after showing a substantial pullback going into the close of the previous session. The choppy trading comes as traders digest the latest batch of earnings news.
While most of the major sector indices are showing relatively modest moves, significant strength has emerged in the railroad, banking, and energy sectors. On the other hand, biotechnology, health insurance, and electronic storage stocks have come under considerable selling pressure.
The major averages are currently turning in a mixed performance, although they are all nearly unchanged line. The Dow is currently down 6.37 at 7,880.20, while the Nasdaq is up 1.50 at 1,647.62 and the S&P 500 is up 1.34 at 844.89.
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