TradingMarkets Mid-Day Movers
With traders picking up
stocks at reduced levels following recent weakness, the U.S. stock
markets moved higher in early trading on Tuesday. The major
averages all moved into positive territory, benefiting from early
strength among resource stocks.
Buying interest has waned
somewhat since the morning, however, as traders look ahead to
Federal Reserve Chairman Ben Bernanke’s testimony before Congress
as well as some key economic data that is due to be released later
this week.
Our
PowerRatings
Heat Maps*
from Monday’s close has started to become more neutral after
looking bearish over the last several sessions. While no
particular sector is showing a majority of high PowerRated stocks,
it will be interesting to see if we continue seeing upside
momentum after the last week’s selling.
Click here for a free trial to our PowerRatings Heat Maps.
Crude for March delivery
rose 1.5% to $58.65 a barrel as the International Energy Agency
has increased its forecast for global oil consumption this year.
Gold for April delivery is
moving higher this morning up 0.7% to $671.80. Weakness in
the dollar is being cited for today’s rise in gold.
Click here to see our new list of indicators that includes
Gaps Down 5% or More,
2-Period RSI Below 2,
Stocks Up 10% or More. Historically proven edges make
these a great place to start making a watch list.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com