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Major Averages Hovering Firmly In Positive Territory(Alliance News Via Acquire Media NewsEdge) WASHINGTON (Alliance News) - After ending the previous session modestly lower, stocks have shown a strong move back to the upside during trading on Tuesday. With the upward move on the day, the S&P 500 has reached a new record intraday high. Networking stocks have shown a particularly strong move to the upside on the day, driving the NYSE Arca Networking Index up by 1.7%. The index has bounced well off the two-month closing low that it set last Thursday. Ciena (CIEN), Arris Group (ARRS), and Juniper Networks (JNPR) are turning in some of the networking sector's best performance. Significant strength has also emerged among telecom stocks, as reflected by the 1.6% gain being posted by the NYSE Arca Telecom Index. With the gain, the index has reached its best intraday level in well over a month. Housing stocks are also turning in a strong performance on the heels of upbeat existing home sales data, with the Philadelphia Housing Sector Index climbing by 1.2%. Computer hardware, transportation, and biotechnology stocks are also seeing notable strength, while gold stocks are among the few groups bucking the uptrend. The major averages have moved roughly sideways in recent trading, hovering firmly in positive territory. The Dow is up 67.79 points or 0.4% at 17,119.52, the Nasdaq is up 36.74 points or 0.8% at 4,461.45 and the S&P 500 is up 11.27 points or 0.6% at 1,984.90. Copyright RTT News/dpa-AFX |