RTTNews - After staging a substantial rally early on, stocks are seeing continued strength in late morning trading on Thursday. While buying interest has waned somewhat, the major averages are holding onto substantial gains, with the Nasdaq above the 2,000 level.
The strength in the markets comes as traders have reacted positively to the latest earnings and economic news, including a report from the Labor Department showing that the four-week moving average for jobless claims fell to a six-month low last week.
Significant strength has emerged in a variety of sectors, with chemical stocks posting particularly strong gains after Dow Chemical (DOW) reported an unexpected adjusted profit for the second quarter. Shares of Dow are currently up 8.8 percent.
Resource stocks are also seeing considerable strength after seeing some weakness in recent sessions. Oil service stocks are posting notable gains amid a substantial rebound by the price of crude oil. Considerable strength is also visible among real estate, banking, and retail stocks.
While the major averages have pulled back off their best levels of the day in recent trading, they currently remain firmly positive. The Dow is currently up 154.78 at 9,225.50, the Nasdaq is up 32.38 at 2,000.04 and the S&P 500 is up 18.66 at 993.81.
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