Major Averages Remain On Opposite Sides Of Unchanged Line – U.S. Commentary

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After moving in opposite directions early in the session, stocks continue to turn in a mixed performance in mid-day trading on Wednesday. The Dow and the S&P 500 have reached new record intraday highs, while the tech-heavy Nasdaq has slid into negative territory.

Currently, the major averages remain on opposite sides of the unchanged line. While the Nasdaq is down 33.77 points or 0.6 percent at 5,346.15, the Dow is up 73.58 points or 0.4 percent at 19,195.18 and the S&P 500 is up 2.38 points or 0.1 percent at 2,207.04.

The mixed performance on Wall Street comes amid news that the members of OPEC have reached an agreement to cut oil production.

OPEC ministers revealed that the cartel has agreed to reduce production by about 1.2 million barrels to 32.5 million barrels a day.

Oil prices have skyrocketed in reaction to the news, with crude oil for January delivery spiking $3.70 to $48.93 a…

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