August 12, 2013- Stocks Close Lower as Investors Look for Direction

Stocks showed a lack of direction throughout the trading day on Monday after recovering from an early move to the downside. The lackluster performance came after the markets showed notable moves to the downside last week. The major averages bounced back and forth across the unchanged line before ending the day mixed. While the Nasdaq rose 9.84 points or 0.3 percent to 3,669.95, the Dow edged down 5.83 points or less than a tenth of a percent to 15,419.68 and the S&P 500 dipped 1.95 points or 0.1 percent to 1,689.47. Uncertainty about the outlook for the Federal Reserve's stimulus program contributed to the choppy trading on Wall Street. While recent comments from Fed officials have suggested that the central bank could begin scaling back its asset purchases as early as its September meeting, the slew of economic data due to be released in the coming days could have a significant impact on the outlook for the program.