Tuesday, May 17, 2011

Stocks Pare Losses, End Little Changed

Stocks climbed back from modest losses to end the session little changed.

The Nasdaq rose a fraction, while the S&P 500 and NYSE composite each fell a fraction. The Nasdaq had been off as much as 0.8% earlier in the day, and the NYSE composite was down as much as 0.9%.

Volume rose on NYSE and Nasdaq, according to early data.

Among Tuesday's firmest groups you'll find Internet content, coal and gaming software companies. These three groups actually took some of the biggest hits in the prior session. Even in Tuesday's rebound, each ended with gains much pared from the day's best levels.

Automobile tires and miscellaneous stocks, which make up a highly ranked group, posted the day's worst performances. Large declines by Titan International (TWI) and thinly traded Douglas Dynamics (PLOW) accounted for much of the damage in that group.

Poor showings also were posted by heavy-duty trucks and parts, car and truck original equipment, solar stocks, office supplies, tools and paint. Most of these come from the middle- or lower-ranked groups.