Major Averages Close Firmly In Positive Territory

(RTTNews) - Stocks moved mostly higher over the course of the trading day on Tuesday after initially showing a lack of direction. The strength that emerged on the day partly offset the notable losses posted in the two previous sessions.

While many of the major sectors ended the day showing only modest moves, considerable strength was visible among software stocks. Reflecting the strength in the software sector, the Dow Jones Software Index advanced by 1.1 percent.

Adobe Systems (ADBE) turned in one of the software sector's best performances ahead of the release of its second quarter results after the close of today's trading.

Tobacco stocks also saw significant strength on the day, driving the NYSE Arca Tobacco Index up by 1.3 percent. British American Tobacco (BTI) posted a standout gain after Credit Suisse reinitiated coverage of the stock with an Outperform rating.

Notable strength also emerged among natural gas stocks, as reflected by the 1.3 percent gain posted by the NYSE Arca Natural Gas Index. With the gain, the index rebounded after ending the previous session at its lowest closing level in well over a month.

On the other hand, gold stocks came under pressure on the day, dragging the NYSE Arca Gold Bugs Index down by 1.5 percent to a nearly six-month closing low. The weakness in the sector came as gold for August delivery fell $4.90 to $1,180.90 an ounce.

The major averages finished the session firmly in positive territory. The Dow climbed 113.31 points or 0.6 percent to 17,904.48, the Nasdaq rose 25.58 points or 0.5 percent to 5,055.55 and the S&P 500 advanced 11.86 points or 0.6 percent to 2,096.29.