Major Averages In Positive Territory In Mid-Day Trading

(RTTNews) - Adding to the gains posted in the previous session, stocks remain mostly positive in mid-day trading on Tuesday. With the upward move, the major averages have further offset the sharp pullback that was seen late last week.

Many of the major sectors are showing only modest moves, although significant strength has emerged among energy stocks. The strength in the sector comes amid an increase by the price of crude oil, with crude for February delivery climbing $0.66 to $36.47 a barrel.

Reflecting the strength in the energy sector, the Philadelphia Oil Service Index has surged up by 2.4 percent, while the NYSE Arca Oil & Gas Index and the NYSE Arca Natural Gas Index are up by 1.4 percent and 1.2 percent, respectively.

Steel stocks also continue to turn in a strong performance amid optimism additional Chinese stimulus could boost demand. The NYSE Arca Steel Index is up by 2.5 percent, climbing further off the record closing low set last Thursday.

Considerable strength is also visible among railroad stocks, as reflected by the 2 percent gain being posted by the Dow Jones Railroads Index. The index is bouncing off yesterday's two-year closing low.

Currently, the major averages are all in positive territory, although the Nasdaq is up only 6.34 points or 0.1 percent at 4,975.26. The Dow is up 69.71 points or 0.4 percent at 17,321.33, and the S&P 500 is up 6.80 points or 0.3 percent at 2,027.95.