After moving sharply higher earlier in the session, stocks are moving roughly sideways in late morning trading on Monday, leveling off near their highs of the day.

Banking and brokerage stocks are leading the overall advance, with the S&P Banks Index up 9.2 percent, while the Amex Securities Broker/Dealer Index is up 7.2 percent.

Oil services and steel stocks, along with some other resource stocks, are also posting considerable gains. Given the overall strength, most of the other major sectors are also showing considerable strength.

Currently, the Dow is up 268.17 at 7,546.55, the Nasdaq is up 47.61 at 1,504.88, and the S&P 500 is up 29.16 at 797.70.

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