WASHINGTON (dpa-AFX) - Stocks continue to show a lack of direction during trading on Tuesday but have maintained the positive bias seen over the two previous sessions. While buying interest seems somewhat subdued, the major averages have all moved to the upside on the day.
Currently, the major averages are posting modest gains. The Dow is up 88.77 points or 0.2 percent at 51,167.65, the Nasdaq is up 37.15 points or 0.1 percent at 27,123.95 and the S&P 500 is up 11.67 points or 0.2 percent at 7,611.63.
While uncertainty about the situation in the Middle East has kept some traders on the sidelines, optimism about the AI trade continues to generate positive sentiment on Wall Street.
Semiconductor stocks are turning in some of the market's best performances on the day, with the Philadelphia Semiconductor Index spiking by 4.5 percent to a record intraday high.
Substantial strength is also visible among computer hardware stocks, as reflected by the 3.6 percent surge by the NYSE Arca Computer Hardware Index.
Networking stocks have also shown a significant move to the upside, driving the NYSE Arca Networking Index up by 2.8 percent.
Steel, oil service and banking stocks are also seeing considerable strength, while software and biotechnology stocks are pulling back sharply.
In overseas trading, stock markets across the Asia-Pacific region turned in another mixed performance during trading on Tuesday. Japan's Nikkei 225 Index fell by 0.3 percent, while China's Shanghai Composite Index climbed by 0.4 percent.
Meanwhile, the major European markets have all moved to the upside on the day. While the French CAC 40 Index is up by 0.7 percent, the German DAX Index is up by 0.4 percent and the U.K.'s FTSE 100 Index is up by 0.3 percent.
In the bond market, treasuries have given back ground after an early surge but remain in positive territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 2.8 basis points at 4.447 percent.
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