Dow, S&P 500 weakness belie strength in broader stock market

It wouldn't be right to say the stock market is down Tuesday, just because the Dow Jones Industrial Average and the S&P 500 are firmly lower in midday trade. Advancing stocks are outnumbering decliners by a 1,582 to 1,279 margin on the NYSE, and by a 1,230 to 1,175 score on the Nasdaq. The Dow Jones Transportation Average was shooting up 142 points, or 1.9%, with all 20 of its components trading higher. Market watchers tend to keep a close eye on the transport sector, because it is widely viewed as a useful indicator of global economic growth. In addition, the Russell 2000 Index of small-capitalization stocks, which many view as an indicator of investor risk tolerance, was up 0.1%. The Dow was down 77 points, and the S&P 500 was losing 0.4%.

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