May 24, 2012-Markets Edge Higher During Choppy Session

Stocks showed a lack of direction over the course of the trading day on Thursday, as seemed reluctant to make any significant moves. The choppy trading came after the markets saw considerable volatility over the course of the two previous sessions. The major averages bounced back and forth across the unchanged line, eventually ending the session mixed. While the Nasdaq fell 10.74 points or 0.4 percent to 2,839.38, the Dow rose 33.60 points or 0.3 percent to 12,529.75 and the S&P 500 edged up 1.82 points or 0.1 percent to 1,320.68. The lackluster performance on Wall Street came as traders expressed uncertainty about the near-term outlook for the markets following the sell-off seen earlier this month. While some analysts have described the markets as oversold in light of the recent weakness, traders appear reluctant to go bargain hunting amid continued concerns about the financial situation in Europe. Traders also digested some uninspiring U.S. economic data, including a report from the Commerce Department showing a drop by a key indicator of business spending.