Stocks continue to see substantial strength entering afternoon trading on Monday.

Banking and brokerage stocks continue to lead the advance, while steel and oil services stocks are also showing notable strength.

The Amex Steel Index is up 8 percent and the Philadelphia Oil Services Index is up 7.5 percent.

In recent trading, the major averages have reached new highs for the session. Currently, the Dow is up 312.54 at 7,590.92, the Nasdaq is up 59.28 at 1,516.55, and the S&P 500 is up 33.95 at 802.49.

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