U.S. Stocks Seeing Modest Weakness Following Two-Day Rally

Stocks are seeing modest weakness in morning trading on Tuesday, giving back ground after moving sharply higher over the two previous sessions. Selling pressure has remained somewhat subdued, however, limiting the downside for the major averages.

Currently, the major averages are off their lows of the session but still in negative territory. The Dow is down 82.07 points or 0.2 percent at 33,547.49, the Nasdaq is down 36.70 points or 0.3 percent at 11,327.71 and the S&P 500 is down 16.09 points or 0.4 percent at 4,003.72.

The modest weakness on Wall Street comes as some traders look to cash in on the recent strength in the markets amid lingering concerns about the outlook for interest rates and the economy.

The notable two-day rally seen last Friday and Monday lifted the Nasdaq and the S&P 500 to their best closing levels in over a month.

A steep drop by shares of 3M (MMM) is weighing on the Dow, with the diversified manufacturer plunging by 6.5 percent.