After ending the previous session mostly higher, stocks are seeing some further upside in early trading on Thursday. The major averages have shown strong upward moves amid a positive reaction to the latest batch of economic data.

Resource stocks are helping to lead the way higher amid increases in most of the major commodities prices. Significant strength has also emerged among semiconductor, transportation, housing, and internet stocks.

In the past few minutes, the major averages have seen some follow through on their initial upward moves, rising to new highs for the young session. The Dow is currently up 79.97 at 7,829.78, the Nasdaq is up 27.95 at 1,556.90 and the S&P 500 is up 10.64 at 824.52.

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