WASHINGTON (dpa-AFX) - Following the lackluster performance seen in the previous session, stocks continued to experience choppy trading during Tuesday's session.
While the Dow showed a strong move to the upside, the Nasdaq and the S&P 500 spent much of the day lingering near the unchanged line after recovering from early weakness.
The Dow closed higher for the third straight session, jumping 537.24 points or 1 percent to 52,747.32. The S&P 500 also rose 15.60 points or 0.2 percent to 7,428.78, but the tech-heavy Nasdaq dipped 55.17 points or 0.2 percent to 24,876.91.
The advance by the Dow came as shares of Sherwin-Williams (SHW) moved sharply higher, with the paint maker spiking by 8.3 percent after reporting better than expected second quarter results and raising its full-year guidance.
Shares of Coca-Cola (KO) also surged by 5 percent after the beverage giant reported second quarter results that exceeded expectations and hiked its full-year outlook.
Meanwhile, weakness among technology stocks weighed on the Nasdaq, with semiconductor stocks turning in some of the worst performances.
The Philadelphia Semiconductor Index plunged by 4.5 percent, closing lower for the fourth straight day and tumbling to its lowest closing level in well over two months.
Considerable weakness was also visible among computer hardware stocks, as reflected by the 2.5 percent slump by the NYSE Arca Computer Hardware.
Outside of the tech sector, oil service stocks also significant weakness amid an extended nosdive by the price of crude oil.
Meanwhile, pharmaceutical stocks showed a strong move to the upside, driving the NYSE Arca Pharmaceutical Index up by 2.3 percent to a record closing high.
Telecom, airline and housing stocks also turned in strong performances, helping to offset the weakness in the tech sector.
In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Tuesday. Japan's Nikkei 225 Index plunged by 4 percent, while Hong Kong's Hang Seng Index increase by 0.4 percent.
Meanwhile, the major European markets have all moved to the upside on the day. While the U.K.'s FTSE 100 Index advanced by 0.8 percent, the French CAC 40 Index climbed by 0.6 percent and the German DAX Index rose by 0.4 percent.
In the bond markets, treasuries extended the rebound seen over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 3.7 basis points to 4.604 percent.
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