US Market Updates
2/9/2010 4:19 PM ET
(RTTNews) -
After moving sharply lower over the course of the previous session, stocks showed a strong move back to the upside during trading on Tuesday. The major averages all ended the day firmly in positive territory, with the Dow and the S&P 500 bouncing well off three-month closing lows.
The strength in the markets came as traders picked up stocks at reduced levels following recent weakness, with speculation about a prospective European Union bailout package for debt-ridden Greece also generating some buying interest.
Airline stocks turned in some of the market's best performances, resulting in a 7.7 percent advance by the NYSE Arca Airline Index. United Airlines parent UAL Corp. (UAUA) helped to lead the sector higher after reporting an increase in January traffic.
Most of the other major sectors also showed strong upward moves on the day, with significant strength visible among gold, oil service, networking, and chemical stocks. On the other hand, some real estate stocks bucked the uptrend by the broader markets.
The major averages ended the session well off their best levels of the day, although they still posted strong gains. The Dow closed up 150.25 at 10,058.64, the Nasdaq closed up 24.82 at 2,150.87 and the S&P 500 closed up 13.78 at 1,070.52.
by RTT Staff Writer
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