Major Averages Posting Modest Gains In Early Trading

(RTTNews) - Stocks moved higher at the start of trading on Tuesday after showing a lack of direction throughout the previous session and closing roughly flat. The major averages all moved to the upside, although buying interest has waned since the open.

The initial strength on Wall Street may have reflected window dressing on the final trading day of the year, as some mutual fund managers look to improve their yearly performance.

Nonetheless, many traders remain on the sidelines ahead of the New Year's Day holiday on Wednesday, likely leading to choppy trading over the remainder of the session.

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

The major averages have recently pulled back off their highs for the young session but are holding on to modest gains. The Dow is up 22.99 points or 0.1 percent at 16,527.28, the Nasdaq is up 8.96 points or 0.2 percent at 4,163.15 and the S&P 500 is up 2.12 points or 0.1 percent at 1,843.19.