Major Averages Remain In Negative Territory In Mid-Day Trading

(RTTNews) - After coming under pressure earlier in the session, stocks remain mostly lower in mid-day trading on Thursday. The losses on the day come after the Nasdaq ended the previous session at a record closing high.

Oil service stocks continue to see considerable weakness in mid-day trading, with the Philadelphia Oil Service Index down by 1.8 percent. With the drop, the index has fallen to its lowest intraday level in a month.

The losses by oil service stocks come amid a decrease by the price of crude oil, as crude for July delivery is sliding $0.36 to $57.15 a barrel.

Significant weakness also remains visible among natural gas stocks, as reflected by the 1.8 percent loss being posted by the NYSE Arca Natural Gas Index. The weakness in the sector comes as natural gas for July delivery is falling $0.122 to $2.725 per million BTUs.

Steel, railroad, and trucking stocks also remain under pressure in mid-day trading, while electronic storage stocks have shown a strong move to the upside on the day.

Currently, the major averages are stuck in negative territory. The Dow is down 80.98 points or 0.5 percent at 18,082.01, the Nasdaq is down 19.23 points or 0.4 percent at 5,087.36 and the S&P 500 is down 9.10 points or 0.4 percent at 2,114.38.