Major Averages Remain Nearly Flat In Mid-Day Trading

(RTTNews) - With traders moving to the sidelines following the volatility seen over the past two sessions, stocks continue to show a lack of direction in mid-day trading on Wednesday. The major averages have spent the day lingering near the unchanged line.

Most of the major sectors are showing only modest moves, although notable strength has emerged among networking stocks. The NYSE Arca Networking Index has risen by 1.1 percent and is on pace to end the session at a twelve-year closing high.

Infinera (INFN) and Emulex (ELX) are turning in two of the networking sector's best performances, advancing by 1.7 percent and 1.9 percent, respectively.

Banking stocks have also moved to the upside on the day, resulting in a 1.1 percent gain by the Dow Jones Banks Index. Bank of America (BAC) has helped to lead the sector higher.

Gold and railroad stocks are also seeing some strength in mid-day trading, while weakness is visible among commercial real estate and housing stocks.

Currently, the major averages are turning in a mixed performance, with the Dow posting a modest loss. While the Dow is down 24.78 points or 0.2 percent at 16,371.10, the Nasdaq is up 4.67 points or 0.1 percent at 4,356.64 and the S&P 500 is up 1.15 points or 0.1 percent at 1,875.06.