WASHINGTON (dpa-AFX) - After moving mostly lower earlier in the session, stocks are turning in a mixed performance in mid-day trading on Monday. The tech-heavy Nasdaq has bounced back into positive territory, while the Dow and the S&P 500 are in the red.
Gold stocks continue to see substantial weakness on the day, with the NYSE Arca Gold Bugs Index tumbling by 3.5 percent. With the drop, the index is on pace to end the session at a twelve-year closing low.
The weakness among gold stocks comes amid a decrease by the price of the precious metal, as gold for December delivery is falling $4.70 to $1,090.40 an ounce.
Significant weakness also remains visible among electronic storage stocks, as reflected by the 1.6 percent loss being posted by the NYSE Arca Disk Drive Index. Datalink (DTLK) has helped to lead the sector lower, plunging by 6.1 percent.
Energy stocks are also seeing notable weakness in mid-day trading, as the price of crude oil for September delivery is sliding $1.16 to $45.96 a barrel.
On the other hand, airline stocks have shown a strong move to the upside on the day, driving the NYSE Arca Airline Index up by 1.9 percent. United Continental (UAL) and Southwest (LUV) are posting strong gains.
Currently, the major averages remain on opposite sides of the unchanged line. While the Nasdaq is up 4.18 points or 0.1 percent at 5,132.46, the Dow is down 71.25 points or 0.4 percent at 17,618.61 and the S&P 500 is down 1.97 points or 0.1 percent at 2,101.87.
Copyright RTT News/dpa-AFX