U.S. Stocks Move Modestly Higher After Seeing Initial Weakness
WASHINGTON (dpa-AFX) - After moving to the downside at the start of trading on Tuesday, stocks have rebounded over the course of the morning. The major averages have bounced well off their early lows and into positive territory, with the S&P 500 reaching a new record intraday high.
Currently, the major averages are posting modest gains. The Dow is up 13.36 points or less than a tenth of a percent at 33,540.55, the Nasdaq is up 23.86 points or 0.2 percent at 13,729.46 and the S&P 500 is up 6.50 points or 0.2 percent at 4,084.41.
Profit taking contributed to the initial weakness on Wall Street, as some traders looked to cash in on the recent strength in the markets.
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