June 05, 2012-Stocks Close Higher on Light Trading Volume

Stocks moved mostly higher over the course of the trading day on Tuesday after showing a lack of direction earlier in the session. Buying interest remained relatively subdued, however, limiting the upside for the markets. The major averages all ended the day in positive territory, although the Dow underperformed its counterparts. The Dow edged up 26.49 points or 0.2 percent at 12,127.95, while the Nasdaq rose 18.10 points or 0.7 percent to 2,778.11 and the S&P 500 climbed 7.32 points or 0.6 percent to 1,285.50. The strength that emerged on Wall Street came as some traders began looking to pick up stocks at reduced levels following the notable decline seen in recent weeks. Nonetheless, many traders remained reluctant to go bargain hunting amid lingering concerns about the U.S. economic outlook following last Friday's much weaker than expected jobs report. Helping to offset the economic worries, the Institute for Supply Management released a report showing that activity in the U.S. service sector grew at a slightly faster rate in May.