RTTNews - Stocks are turning in a lackluster performance in early trading on Thursday, with the major averages having difficulty sustaining any significant moves. The choppy trading comes after the markets staged a substantial rally in the previous session.
While a report released before the start of trading showed a steeper than expected decline in weekly jobless claims, the decrease was partly due to seasonal issues in the auto sector, limiting the optimism generated by the report.
The major sectors are turning in a roughly mixed performance, contributing to the lack of direction being shown by the broader markets. While biotech and trucking stocks are seeing early strength, financial and wireless stocks have come under pressure.
After moving lower at the open, the major averages are currently turning in a mixed performance, with the S&P 500 posting a modest loss. While the S&P 500 is down 1.66 at 931.02, the Dow is up 10.21 at 8,626.42 and the Nasdaq is up 2.21 at 1,865.11.
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