Stocks have moved sharply higher in early trading on Tuesday, as traders pick up stocks at reduced levels following recent weakness in the markets. The major averages have shown strong upward moves, with the Dow and the S&P 500 bouncing off of three-month closing lows.
The early strength comes as traders go bargain hunting after Monday's sell-off, which caused the Dow to close below the 10,000 level for the first time since early November. However, there is not much significant news to support the buying interest.
Most of the major sectors have moved to the upside in early trading, with airline stocks posting particularly strong gains. United Airlines parent UAL Corp. (UAUA) is leading the sector higher after reporting an increase in January traffic.
Significant strength is also visible among resource stocks, which are moving higher along with commodities prices. Banking, networking, and railroad stocks are also posting notable gains.
At the top of the hour, trading could be impacted by the release of the Commerce Department's report on wholesale inventories in the month of December. Economists expect the report to show that inventories increased by 0.5 percent following a 1.5 percent increase in November.
In the past few minutes, the major averages have pulled back off their highs for the session, although they currently remain firmly in positive territory. The Dow is currently up 106.04 at 10,014.43, the Nasdaq is up 20.68 at 2,146.73 and the S&P 500 is up 11.25 at 1,067.99.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.