Major Averages Narrowly Mixed After Recovering From Early Weakness
(RTTNews) - Following the pullback seen early in the session, stocks have regained some ground over the course of the trading day on Tuesday. The major averages have climbed well off their lows of the session and are now lingering near the unchanged line.
Currently, the major averages are narrowly mixed. While the Dow is up 62.00 points or 0.2 percent at 33,691.56, the Nasdaq is down 23.39 points or 0.2 percent at 11,341.02 and the S&P 500 is down 3.88 points or 0.1 percent at 4,015.93.
The early weakness on Wall Street came as some traders cashed on the strong upward move seen over the two previous sessions.
Concerns about the outlook for interest rates and the economy continued to weigh on the markets, pulling the Nasdaq and the S&P 500 down off their best closing levels in over a month.
A negative reaction to some of the latest earnings news also contributed to the early pullback, with 3M (MMM) posting a steep loss after reporting weaker than expected fourth quarter earnings and providing disappointing guidance.
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