Strength in energy lifted U.S. stocks on Tuesday as investors concentrated on adding to winning positions as the quarter winds down, but uncertainty kept trading volume light.
About 6.2 billion shares traded in composite volume on the New York Stock Exchange, NYSE Amex and Nasdaq, the second-weakest of 2011 and far below last year's estimated daily average of 8.47 billion.
Conviction has been weak as investors assess the effect of Japan's earthquake and turmoil in the Middle East on corporate results.
"I don't think a lot of people know what to do. They hear about how bullish it is to reconstruct Japan but until the disaster is quantified, they are not going to do anything," said Shawn Hackett, president of Hackett Advisors in Boynton Beach, Florida.
"When the market doesn't know what to do, it tends to go up on low volume and down on higher volume because when people get nervous, they sell."
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 12,279.01 |
|---|---|
| Trade Time: | 4:01PM EDT |
| Change: |  81.13 (0.67%) |
| Prev Close: | 12,197.88 |
|---|---|
| Open: | 12,194.48 |
| Day's Range: | 12,173.51 -12,285.41 |
| 52wk Range: | 9,596.04 -12,418.00 |
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