Moving into the last hour of trading on Thursday, stocks have come off their highs but remain notably positive.

Transportation and semiconductor stocks are holding onto strong gains, with the Dow Jones Transportation Average up 6.5 percent and the Philadelphia Semiconductor Index up 4.1 percent.

Meanwhile, banking and tobacco stocks are some of the worst performers of the day. The Kbw Bank Index is down 2.5 percent and the Amex Tobacco Index is down 1.6 percent.

Currently, the Dow is up 81.16 at 7,830.97, the Nasdaq is up 31.90 at 1,560.85, and the S&P 500 is up 8.00 at 821.88.

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