May 06, 2013-Stocks Edge Higher on Lackluster Trading After Recent Gains

Stocks are turning in a lackluster performance in early trading on Monday after showing a strong move to the upside last week. The major averages have turned mixed on the day, with the Dow sliding into negative territory. The major averages currently remain mixed, showing only modest moves for the session. While the Dow is down 23.33 points or 0.2 percent at 14,950.63, the Nasdaq is up 6.41 points or 0.2 percent at 3,385.04 and the S&P 500 is up 1.04 points or 0.1 percent at 1,615.46. The choppy trading on Wall Street comes as traders seem reluctant to make any significant moves following last week's rally, which lifted both the Dow and the S&P 500 to record highs. A lack of major U.S. economic news is also keeping traders on the sidelines, as last Friday's better than expected jobs report has eased concerns about a Spring slowdown. Following the slew of key economic events last week, the economic calendar for this week is relatively barren. Nonetheless, traders are likely to keep an eye on reports on weekly jobless claims, consumer credit and wholesale inventories.