U.S. Stocks Turn Mixed After Seeing Initial Strength

(RTTNews) - After an early move to the upside, stocks have turned mixed over the course of the trading session on Tuesday. While the Dow is holding on to a strong gain, the tech-heavy Nasdaq has pulled back into negative territory following yesterday's spike.

The Nasdaq has seen further downside in recent trading and is currently down 64.34 points or 0.6 percent at 10,702.75. Meanwhile, the Dow is up 311.47 points or 1.2 percent at 26,992.34 and the S&P 500 is up 15.36 points or 0.5 percent at 3,267.20.

The advance by the Dow is partly due to a strong gain by Coca-Cola (KO), with the beverage giant jumping by 2 percent after reporting better than expected second quarter results.

Shares of IBM (IBM) have also moved to the upside after the tech giant reported second quarter results that exceeded analyst estimates on both the top and bottom lines.

On the other hand, the pullback by the Nasdaq may partly reflect profit taking after the index reached a new record intraday high in early trading.
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