Stocks continue to see some strength in afternoon trading on Wednesday, with the major averages hovering in positive territory. While stocks moved sharply lower at the open, they showed a notable turnaround over the course of the morning.

The turnaround by the markets reflects significant strength that has emerged in a variety of sectors, with steel, gold, and wireless stocks turning in some of the best performances. Banking stocks are also moving mostly higher, although they have pulled back off their best levels.

The major averages are currently holding onto strong gains, although they are well off their highs for the session. The Dow is currently up 87.05 at 7,695.97, the Nasdaq is up 12.54 at 1,541.13 and the S&P 500 is up 7.54 at 805.41.

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