Oct 25, 11:14 a.m., New York
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Nasdaq Composite Index XC0009694271

Major Averages Lingering Near Unchanged Line In Early Trading

10/08/13

WASHINGTON (dpa-AFX) - Stocks are showing a lack of direction in early trading on Tuesday after ending the previous session sharply lower. The major averages are showing only modest moves, lingering near the unchanged line.

The choppy trading on Wall Street comes as traders continue to keep an eye on Washington as the government shutdown reaches its eighth day.

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While many traders still expect a deal to be reached in the relatively near future, lawmakers on both sides of the aisle are currently holding their ground.

Democrats continue to urge House Speaker John Boehner, R-Ohio, to bring a "clean" spending bill to the floor for a vote, while Republicans are still demanding concessions from the White House.

Most of the major sectors are showing only modest moves in early trading, contributing to the lackluster performance by the broader markets.

Healthcare provider and railroad stocks are seeing some strength, while weakness is visible among biotechnology and telecom stocks.

Currently, the major averages remain nearly flat. While the S&P 500 is up 0.18 points at 1,676.30, the Dow is down 5.77 points at 14,930.47 and the Nasdaq is down 3.51 points at 3,766.87.

Copyright RTT News/dpa-AFX


                                                                                                                        

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