WASHINGTON (dpa-AFX) - Stocks are seeing modest strength during trading on
Tuesday, extending the strong upward move seen over the past several sessions.
Buying interest has remained somewhat subdued, however, limiting the upside for
the major averages.

The tech-heavy Nasdaq has been bouncing back and forth across the unchanged line
but is currently up 28.30 points or 0.2 percent at 16,377.54. The Dow is up
111.34 points or 0.3 percent at 38,963.61 and the S&P 500 is up 14.60 points or
0.3 percent at 5,195.34.

The modest strength on Wall Street comes as stocks continue to benefit from
renewed optimism about the outlook for interest rates.

Relatively dovish comments from Federal Reserve Chair Jerome Powell combined
with weaker-than-expected job growth in April have largely eliminated
short-lived concerns the Fed might actually consider raising rates.

Investors have instead grown increasingly confident about a rate cut in the
coming months, with the chances rates will be lower by September now at 89.1
percent, according to CME Group's FedWatch Tool.

However, traders seem reluctant to make more significant moves as they take a
breather following the notable advance in recent sessions. The surge has lifted
the major averages to their best levels in almost a month.

Among individual stocks, shares of Hims & Hers Health (HIMS) have moved sharply
higher after the telehealth company reported better than expected first quarter
results and provided upbeat second quarter revenue guidance.

Apparel retailer Gap (GPS) has also shown a strong move to the upside after Citi
upgraded its rating on the company's stock to Buy from Neutral.

On the other hand, shares of Disney (DIS) are seeing significant weakness even
though the entertainment giant reported better than expected fiscal third
quarter earnings.

Sector News

Most of the major sectors are showing only modest moves on the day, reflecting
the lackluster performance by the broader markets.

Oil service and telecom stocks are seeing notable strength, however, with the
Philadelphia Oil Service Index and the NYSE Arca North American Telecom Index
both climbing by 1.0 percent.

Commercial real estate and housing stocks have also moved to the upside, while
airline stocks are seeing significant weakness, dragging the NYSE Arca Airline
Index down by 2.0 percent.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly
higher during trading on Tuesday. Japan's Nikkei 225 Index jumped by 1.6 percent
and South Korea's Kospi surged by 2.2 percent, while China's Shanghai Composite
Index crept up by 0.2 percent.

The major European markets have also moved to the upside on the day. While the
German DAX Index has shot up by 1.3 percent, the U.K.'s FTSE 100 Index is up by
1.2 percent and the French CAC 40 Index is up by 0.9 percent.

In the bond market, treasuries are extending the upward trend seen over the past
several sessions. As a result, the yield on the benchmark ten-year note, which
moves opposite of its price, is down by 5.4 basis points at 4.435 percent.



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