RTTNews - Stocks have shown a notable move to the upside over the course of morning trading on Monday, with the major averages all moving firmly into positive territory after bouncing back and forth across the unchanged line earlier in the session.
With the price of oil showing a notable upward move even though the International Energy Agency lowered its oil demand forecast for the next five years, oil stocks are turning in some of the market's best performances.
Banking stocks have also shown a strong move to the upside, driving the S&P Banks Index up 1.7 percent. The index is adding to the gains posted in the four previous sessions, offsetting the steep loss that it posted last Monday.
While software, retail, and housing stocks are also seeing considerable strength, health insurance stocks are bucking the uptrend. WellCare (WCG) is leading the insurance sector lower after announcing that its President and Chief Executive Officer Heath G. Schiesser intends to resign.
The major averages have moved roughly sideways in recent trading, hovering firmly in positive territory. The Dow is currently up 78.59 at 8,516.98, the Nasdaq is up 8.18 at 1,846.40 and the S&P 500 is up 7.46 at 926.36.
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