Stocks Fluctuating between Gains and Losses
Stocks are fluctuating between gains and losses in early trading today as investors remain uncertain about the bailout efforts to rescue debt-laden Greece. Investors are also worried about the deepening Italian debt crisis. Earlier in the day, Italy had to pay record interest rates at a bond auction. Meanwhile, China, which apparently is in talks with Italy to purchase government debt, said that it may not buy Italian debt.
With all eyes on the euro zone, stocks are struggling for direction in trading today. At last check, the Dow Jones was trading 0.31% lower at 11,026.91, the S&P 500 was trading 0.09% lower at 1,161.19, and the Nasdaq was trading 0.20% higher at 2,500.17. All three major indexes have been fluctuating between gains and losses.
Energy stocks are leading the losses in the S&P 500 in trading currently. At last check, Energy stocks were trading 0.75% lower. Among the major losers in Energy sector in trading currently are Exxon Mobil Corporation (NYSE: XOM), which is currently trading 1.16% lower at $71.01, and Chevron Corporation (NYSE: CVX), which is currently trading 0.82% lower at $95.12.
Other major losers in trading currently are Best Buy Co. Inc. (NYSE: BBY), which is currently trading 8.05% lower at $22.95, and InterMune Inc. (NASDAQ: ITMN), which is currently trading 9.08% lower at $24.43.
Transportation stocks have risen sharply in early trading today. At last check, Transportation stocks were trading 1.36% higher. The gains in the Transportation sector are being led by Airline stocks. Among the major gainers currently are US Airways Group Inc. (NYSE: LCC), which is currently trading 9.69% higher at $5.32, Delta Air Lines Inc. (NYSE: DAL), which is currently trading 4.61% higher at $7.72, and Southwest Airlines Co. (NYSE: LUV), which is currently trading 4.52% higher at $8.32.