WASHINGTON (dpa-AFX) - Stocks have moved mostly higher over the course of the trading day on Tuesday, extending the strong upward move seen in the previous session. The major averages have all moved to the upside, with the tech-heavy Nasdaq leading the charge.
Currently, the major averages are just off their highs of the session. The Nasdaq is up 266.18 points or 1 percent at 26,086.32, the S&P 500 is up 38.56 points or 0.5 percent at 7,478.99 and the Dow is up 143.46 points or 0.3 percent at 52,326.20.
The strength on Wall Street comes as technology stocks continue to regain ground following the sharp pullback seen during last week's trading.
Semiconductor stocks are helping to lead the way higher once again, with the Philadelphia Semiconductor Index surging by 3.3 percent.
Considerable strength is also visible among networking stocks, as reflected by the 1.7 percent gain being posted by the NYSE Arca Networking Index.
Outside of the tech sector, airline stocks have shown a strong move to the upside over the course of the session, driving the NYSE Arca Airline Index up by 2.6 percent to its best intraday level in well over four months.
The strength that has emerged among airline stocks comes amid a downturn by the price of crude oil, with U.S. crude oil futures sliding by 0.6 percent after jumping by as much as 1.2 percent.
Crude oil prices extended yesterday's rebound earlier in the day amid conflicting messages about a new round of talks between the U.S. and Iran.
While President Donald Trump claimed a meeting is set to be held in Qatar today, a spokesperson for Iran's Foreign Ministry reportedly denied that talks were scheduled.
On the other hand, telecom stocks are giving back ground after moving sharply higher over the two previous sessions, dragging the NYSE Arca North American Telecom Index down by 2.4 percent.
Commercial real estate stocks have also come under pressure along with gold stocks, which are moving lower despite an increase by the price of the precious metal.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan's Nikkei 225 Index advanced by 0.9 percent, while Hong Kong's Hang Seng Index slid by 0.6 percent.
Meanwhile, the major European markets have all moved to the upside on the day. While the German DAX Index is up by 1.2 percent, the U.K.'s FTSE 100 Index is up by 0.2 percent and the French CAC 40 Index is up by 0.1 percent.
In the bond market, treasuries are moving lower after ending the previous session roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up 2.8 basis points at 4.402 percent.
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