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(RTTNews.com) - After seeing considerable volatility early on, stocks are turning in a relatively lackluster performance in late morning trading on Monday. The major averages are showing only modest moves after ending last Friday's trading substantially lower.

The choppy trading comes as traders express some uncertainty about the near-term outlook for the markets following last Friday's sell-off, which was triggered by much weaker than expected jobs data.

Meanwhile, traders have largely shrugged off a report from the Commerce Department showing an unexpected drop in factory orders in April. The data may have been seen as old news.

Despite the lack of direction being shown by the broader markets, substantial weakness is visible among housing stocks. The Philadelphia Housing Sector Index is down by 1.9 percent after hitting a four-month low earlier in the session.

Banking stocks are also seeing considerable weakness, with the KBW Bank Index down by 1.3 percent. Railroad, oil service, and gold stocks have also come under pressure, while modest strength is visible among internet and telecom stocks.

The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest gain. While the Nasdaq is up 3.59 points or 0.1 percent at 2,751.07, the Dow is down 11.47 points or 0.1 percent at 12,107.10 and the S&P 500 is down 2.21 points or 0.2 percent at 1,275.83.

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Stocks Showing A Lack Of Direction After Friday's Sell-Off - U.S. Commentary