Major Averages Hovering In Positive Territory In Mid-Day Trading

(RTTNews) - After moving modestly higher in early trading, stocks have seen some further upside over the course of the trading day on Tuesday. Buying interest has remained somewhat subdued, however, as many traders remain away from their desks.

Gold stocks have shown a strong move back to the upside after coming under pressure in the previous session. The NYSE Arca Gold Bugs Index has advanced by 1.5 percent after tumbling by 2.6 percent on Monday.

The rebound by gold stocks comes amid a modest increase by the price of the precious metal, with gold for February delivery climbing $2.10 to $1,205.90 an ounce.

Brokerage stocks are also seeing notable strength in mid-day trading, with the NYSE Arca Broker/Dealer Index up by 1.1 percent. With the gain, the index has risen to a five-year high.

Oil, railroad, and airline stocks are also seeing some strength on the day, while most of the other major sectors are showing more modest moves.

The major averages have moved roughly sideways in recent trading, hovering in positive territory. The Dow is up 50.96 points or 0.3 percent at 16,555.25, the Nasdaq is up 17.01 points or 0.4 percent at 4,171.21 and the S&P 500 is up 5.62 points or 0.3 percent at 1,846.69.