RTTNews - After seeing some initial strength, stocks have continued to perform well over the course of morning trading on Wednesday. The major averages have all shown strong upward moves after ending the previous session mixed.
The upward move reflects significant strength that has emerged in a variety of sectors, with an unexpected increase in durable goods orders in May generating some buying interest. Traders have largely shrugged off an unexpected drop in new home sales.
Healthcare provider stocks are posting particularly strong gains in late morning trading, resulting in a 4.9 percent gain by the Morgan Stanley Healthcare Provider Index. Tenet Healthcare (THC) and Health Management Associates (HMA) are turning in two of the best performances.
With the durable goods data generating some optimism about the outlook for demand, metal stocks are also posting notable gains. Considerable strength is also visible among transportation, technology, and housing stocks.
The major averages have moved roughly sideways in recent trading, hovering near their best levels of the day. The Dow is currently up 95.83 at 8,418.74, the Nasdaq is up 40.17 at 1,805.09 and the S&P 500 is up 14.80 at 909.90.
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