Major Averages Turning In Mixed Performance In Mid-Day Trading

(RTTNews) - While the tech-heavy Nasdaq has slid firmly into negative territory, the Dow and the S&P 500 have shown a lack of direction over the course of the trading day on Thursday.

Currently, the major averages are turning in a mixed performance. The Nasdaq is down 27.30 points or 0.6 percent at 4,763.85, while the Dow is up 28.86 points or 0.2 percent at 16,941.15 and the S&P 500 is up 0.43 points or less than a tenth of a percent at 1,996.26.

Substantial weakness among biotechnology is weighing on the Nasdaq, with the NYSE Arca Biotechnology Index down by 2.1 percent. The index has partly offset the strong gain posted in the previous session.

Exact Sciences (EXAS) has helped to lead the biotech sector lower, with the molecular diagnostics company plunging by 21.4 percent to a two-year low.

Considerable weakness is also visible among internet stocks, as reflected by the 1.1 percent loss being posted by the Dow Jones Internet Index. Shares of eBay (EBAY) have shown a steep drop, tumbling by 7.7 percent.

On the other hand, steel stocks have moved notably higher on the day, driving the NYSE Arca Steel Index up by 2.1 percent. With the gain, the index is poised to end the session at its best closing level in over a month.

Gold, electronic storage, railroad, and networking stocks are also seeing significant strength in mid-day trading.