Stocks are continuing to show strength during late morning trading on Wednesday.

Housing and banking stocks are leading the climb, with the Philadelphia Housing Index and the Dow Jones Banks Index up 7.9 percent and 6.7 percent, respectively.

Airline and semiconductor stocks are also showing notable gains. The Amex Airline Index is up 5.6 percent and the Philadelphia Semiconductor Index is up 4.2 percent.

Most of the other major sectors are also moving higher, reflecting broad based strength on the heels of some better than expected economic data.

Currently, the Dow is up 176.10 at 7,836.07, the Nasdaq is up 31.65 at 1,548.17, and the S&P 500 is up 17.00 at 823.25.

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