Major Averages Firmly In Positive Territory In Mid-Day Trading

(RTTNews) - Stocks are mostly higher in mid-day trading on Tuesday after seeing some fluctuation earlier in the session. The gains on the day are extending a recent upward move by the major averages, with the Nasdaq reaching its best intraday level in over a month.

Housing stocks are seeing significant strength in mid-day trading, with the Philadelphia Housing Sector Index up by 3.2 percent. The index is regaining some ground after ending the previous session at a six-month closing low.

D.R. Horton (DHI) has helped to lead the housing sector higher, jumping by 7.2 percent, while KB Home (KBH) and PulteGroup (PHM) are also posting strong gains.

Considerable strength has also emerged among transportation stocks, as reflected by the 2.3 percent gain being posted by the Dow Jones Transportation Average. The gain has lifted the average to its best intraday level in well over a month.

Steel stocks are also turning in a strong performance on the day, resulting in a 1.6 percent gain by the NYSE Arca Steel Index. Gold, chemical, and semiconductor stocks are also seeing notable strength.

The major averages have given back some ground in the past few minutes but currently remain firmly positive. The Dow is up 59.64 points or 0.4 percent at 15,284.33, the Nasdaq is up 15.68 points or 0.5 percent at 3,500.52 and the S&P 500 is up 9.25 points or 0.6 percent at 1,649.71.