S&P 500, Nasdaq gains defy negative stock market breadth
The S&P 500 and Nasdaq Composite are rising in midday trading Tuesday, to defy broad market internals showing that most stocks are falling. Stocks losing ground are outnumbering advancers 1,799 to 1,259 on the NYSE and 2,421 to 1,351 on the Nasdaq, while the volume of stocks gaining ground represents 42.9% of total volume on the Big Board and 47.7% of total volume on the Nasdaq. Meanwhile, the S&P 500 is up 0.1% and the Nasdaq Composite is rallying 0.6%. The Dow Jones Industrial Average's decline is more indicative of overall market breadth, as the Dow is down 144 points, or 0.4%, with 23 of 30 components losing ground.
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