RTTNews - Stocks are showing a lack of direction in early trading on Tuesday, with the major averages bouncing back and forth across the unchanged line. The choppy trading comes as traders digest some mixed economic and earnings news.
Despite the lackluster performance being turned in by the broader markets, railroad stocks are seeing notable strength after CSX Corp. (CSX) reported second quarter earnings that fell year-over-year but came in above analyst estimates.
While early strength has also emerged among metal and energy stocks, banking and real estate stocks have come under pressure after helping to lead the way higher on Monday.
The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest loss. While the Nasdaq is currently down 2.57 at 1,790.64, the Dow is up 3.17 at 8,334.85 and the S&P 500 is up 1.01 at 902.06.
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