Stocks have shown a strong upward move over the course of the trading session on Thursday, with the major averages seeing some further upside after ending the previous session firmly in positive territory. With the gains, the major averages have reached new one-month highs.

With the latest economic data showing signs of stabilization, transportation stocks are helping to lead the markets higher. A variety of other sectors have also moved sharply higher, with significant strength visible among semiconductor, networking, and housing stocks.

In the past few minutes, the major averages have edged down off their highs for the session, although they continue to post strong gains. The Dow is currently up 157.07 at 7,906.88, the Nasdaq is up 47.12 at 1,576.07 and the S&P 500 is up 17.48 at 831.36.

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