(RTTNews) - After seeing earlier gains, stocks have moved to the downside in morning trading as investors digest a pair of mixed economic data. Nonetheless, lower oil has contributed to the subdued buying interest.

Airline stocks are turning in some of the best performances, helped by the lower price of crude. The Amex Airline Index is up 1 percent, moving off of a record closing low set on Friday. Software, computer technology and networking stocks are also higher.

On the other hand, resource stocks are seeing significant selling pressure on lower commodity prices. Most notably, gold stocks are sharply lower as the price of the precious metal falls more than $16 an ounce. The Amex Gold Bugs Index is currently down 2.8 percent. Oil and steel stocks are sharply lower as well.

In recent trading, the major averages have moved well off of their intraday highs, with the Dow falling below the unchanged line. While the Dow is currently down 2.68 at 12,476.95, the Nasdaq is up 12.26 at 2,456.93 and the S&P 500 is up 0.89 at 1,376.82.

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Posted in Categories: Economy, Releases, USA.

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