RTTNews - Stocks showed a strong upward move at the start of trading on Wednesday, with the major averages all moving firmly into positive territory. The initial strength lifted the Nasdaq to its best intraday level in almost eight months.

With commodities prices seeing significant strength, resource stocks are helping to lead the way higher in early trading. Considerable strength has also emerged among housing, retail, and networking stocks, although 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 are holding onto gains. The Dow is currently up 59.47 at 8,822.53, the Nasdaq is up 7.75 at 1,867.88 and the S&P 500 is up 5.58 at 948.01.

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