Major Averages Close Higher For Fourth Consecutive Session

(RTTNews) - Stocks moved steadily higher throughout much of the trading session on Tuesday before ending the day firmly in positive territory. The gains extended a recent upward trend, with the major averages closing higher for the fourth consecutive session.

Biotechnology stocks moved sharply higher as the day progressed, driving the NYSE Arca Biotechnology Index up by 2.7 percent. With the gain, the index ended the session at a new record closing high.

Celldex Therapeutics (CLDX), Exact Sciences (EXAS), and Isis Pharmaceuticals (ISIS) turned in some of the biotech sector's best performances.

Significant strength was also visible among oil service stocks, as reflected by the 1.5 percent gain posted by the Philadelphia Oil Service Index. The index continued to regain ground after ending last Wednesday's trading at its worst closing level in well over three months.

The strength among oil service stocks came as news of an agreement on Iran's nuclear program generated optimism about increased oil drilling business in the Islamic republic.

Natural gas, semiconductor, and healthcare stocks also moved notably higher, while steel stocks gave back some ground after rising sharply on Monday.

The major averages gave back some ground going into the close but held on to the bulk of their gains. The Dow climbed 75.90 points or 0.4 percent to 18,053.58, the Nasdaq advanced 33.38 points or 0.7 percent to 5,104.89 and the S&P 500 rose 9.35 points or 0.5 percent to 2,108.95.