Major Averages Bouncing Back And Forth Across Unchanged Line

(RTTNews) - Following the downturn seen over the course of the previous session, stocks have shown a lack of direction during trading on Tuesday. The major averages have spent the day bouncing back and forth across the unchanged line.

Despite the lack of direction being shown by the broader markets, gold have stocks have seen substantial strength throughout the session. The NYSE Arca Gold Bugs Index has surged up by 3.5 percent, reaching its best intraday level in almost two months.

The strength among gold stocks comes amid a continued increase by the price of the precious metal, with gold for June delivery climbing $8.80 to $1,212 an ounce after jumping by $28.20 an ounce on Monday.

Significant strength has also emerged among software stocks, as reflected by the 1.2 percent gain being posted by the Dow Jones Software Index. With the gain, the index has reached its best intraday level in almost fifteen years.

On the other hand, considerable weakness remains visible in the trucking sector, resulting in a 1.5 percent drop by the Dow Jones Trucking Index. C.H. Robinson (CHRW) is posting a steep loss after reporting weaker than expected first quarter results.

Currently, the major averages are posting modest gains. The Dow is up 61.36 points or 0.3 percent at 18,099.33, the Nasdaq is up 10.70 points or 0.2 percent at 5,070.94 and the S&P 500 is up 4.48 points or 0.2 percent at 2,113.40.