After showing a strong upward move in morning trading on Monday, stocks are holding onto substantial gains in the afternoon. While buying interest has waned from earlier in the session, selling pressure has remained almost non-existent.
Banking stocks continue to turn in some of the market's best performances, as traders react to the details of the Obama administration's plan to help banks sell the toxic assets that have been weighing on their balance sheets.
Significant strength also remains visible in a variety of other sectors, with steel, real estate, oil service, and electronic storage stocks posting particularly strong gains. Most of the other major sectors have also shown strong upward moves.
The major averages have moved to the downside in recent trading, although they remain firmly in positive territory. The Dow is currently up 279.40 at 7,557.78, the Nasdaq is up 52.87 at 1,510.14 and the S&P 500 is up 29.87 at 798.41.
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