Nasdaq’s big bounce comes despite just a minority of stocks gaining ground

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The Nasdaq Composite bounced 1.1% in afternoon trading Tuesday, putting it on track to snap a four-day losing streak in which its slumped 3.7%, but the rally comes despite most stocks trading lower. The number of declining stocks on the Nasdaq exchange outnumbered advancers 1,758 to 1,459. On the plus side, however, volume in advancing stocks made up 58.0% of total volume, suggesting the larger-capitalized, more active minority were helping drive the market-cap weighted index higher. Meanwhile, the Dow Jones Industrial Average rose 91 points, or 0.3%, and the S&P 500 gained 0.7%. Breadth data on the NYSE was the opposite of the Nasdaq’s, as advancers outnumbered decliners by 1,514 to 1,390, but advancing volume made up just 44.3% of total volume.
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