Stocks moved higher at the start of trading on Thursday, with the major averages seeing some further upside after a late day rally in the previous session helped them all to end the day in positive territory. The Nasdaq moved sharply higher after underperforming on Wednesday.

After seeing notable weakness in the previous session, semiconductor stocks are moving back to the upside in early trading, with Micron (MU) helping to lead the sector higher after Barclays upgraded its rating on the stock to Overweight.

Some computer hardware stocks are also posting notable gains, contributing to the strong upward move by the tech-heavy Nasdaq. While early strength is also visible in the steel, wireless, and oil service sectors, gold and airline stocks are bucking the uptrend.

In the past few minutes, the major averages have pulled back off their highs for the young session, although they remain firmly positive. The Dow is currently up 31.70 at 8,061.32, the Nasdaq is up 16.98 at 1,643.78 and the S&P 500 is up 3.55 at 855.61.

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