Major Averages Near Their Best Levels In Mid-Day Trading

(RTTNews) - After moving higher at the open, stocks have seen some volatility over the course of the trading day on Tuesday but maintained a positive bias. The gains on the day are partly offsetting the weakness seen in the two previous sessions.

Telecom stocks continue to turn in some of the market's best performances in mid-day trading, with the NYSE Arca Telecom Index surging up by 3 percent. The gain extends the recent recovery by the index, which has offset the sharp pullback seen late last month.

Within the telecom sector, Frontier Communications (FTR), Spring (S) and Fairpoint Communications (FRP) are posting notable gains.

Significant strength also remains visible among semiconductor stocks, as reflected by the 2.1 percent gain being posted by the Philadelphia Semiconductor Index. Micron Technology (MU) has helped to lead the sector higher, jumping by 6.6 percent.

Biotechnology, airline, and health care stocks are also seeing considerable strength on the day, although the gains have been partly offset by weakness in the energy and gold sectors.

Currently, the major averages are firmly in positive territory, near their highs for the session. The Dow is up 90.84 points or 0.5 percent at 17,820.05, the Nasdaq is up 41.88 points or 0.9 percent at 4,767.89 and the S&P 500 is up 13.39 points or 0.7 percent at 2,060.13.