Moving into the last hour of Wednesday's trading, stocks have come off their intraday highs but remain well above the unchanged line.

Steel and gold stocks are leading the advance, with the Amex Steel Index and the Amex Gold Bugs Index posting gains of 5.2 percent and 4.9 percent, respectively.

Meanwhile, biotech and real estate stocks are posting some of the only losses of the day. The Amex Biotechnology Index is down 1.9 percent, while the Morgan Stanley REIT Index is down 1 percent.

Currently, the Dow is up 152.20 at 7,761.12, the Nasdaq is up 20.21 at 1,548.80, and the S&P 500 is up 12.94 at 810.81.

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