Stocks moved higher at the start of trading on Thursday, with the major averages seeing some further upside after posting strong gains in the previous session. The initial strength reflected a positive reaction to the latest batch of earnings and economic news.

Banking stocks are helping to lead the way higher, while significant strength is also visible among chemical, internet, steel, and healthcare stocks. On the other hand, gold stocks are bucking the uptrend amid a decrease by the price of the precious metal.

The major averages have seen some further upside in recent trading, rising to new highs for the young session. The Dow is currently up 78.61 at 8,264.34, the Nasdaq is up 23.02 at 1,734.96 and the S&P 500 is up 9.04 at 882.68.

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