Major Averages Once Again Turn Mixed In Early Trading

(RTTNews) - Stocks are turning in another lackluster performance in early trading on Tuesday after ending the previous session nearly flat. The major averages have been bouncing back and forth, unable to sustain any significant moves.

The second straight day of choppy trading on Wall Street comes as traders remain reluctant to make any significant moves as the midterm elections get underway.

While Republicans are expected to increase their majority in the House, it remains to be seen whether they will pick up the six seats needed to retake control of the Senate.

Traders may also be looking ahead to the release of some key economic data in the coming days, including the closely watched monthly jobs report on Friday.

Many of the major sectors are showing only modest moves, although energy stocks are seeing considerable weakness amid a sharp drop by the price of crude oil.

Crude oil for December delivery is tumbling $1.91 to $76.87 a barrel amid news that Saudi Arabia, OPEC's largest oil producer, cut export prices to the U.S.

While early weakness is also visible among gold, steel, and telecom stocks, airline and trucking stocks have shown a strong move to the upside.

Currently, the major averages are turning in a mixed performance, with the Dow posting a modest gain. The Dow is up 3.30 points or less than 0.1 percent at 17,369.54, while the Nasdaq is down 9.64 points or 0.2 percent at 4,629.26 and the S&P 500 is down 4.96 points or 0.3 percent at 2,012.85.