After showing a strong initial upward move, stocks have seen some further upside over the course of morning trading on Thursday. The major averages have moved firmly into positive territory, with the Nasdaq rising to its best intraday level in almost six months.
Significant strength among technology stocks has helped to push the tech-heavy Nasdaq higher, with semiconductor, electronic storage, and networking stocks posting notable gains. Most tech stocks are extending a nearly two-month upward trend.
Steel stocks are also seeing considerable strength in late morning trading, as reflected by the 5.2 percent gain currently being shown by the Amex Steel Index. With the upward move, the index is testing a key resistance level.
While transportation, healthcare provider, and real estate stocks are also posting notable gains, gold stocks continue to buck the uptrend amid a steep decline by the price of the precious metal.
In recent trading, the major averages have pulled back off their highs for the session, although they continue to post strong gains. The Dow is currently up 98.60 at 8,284.33, the Nasdaq is up 37.89 at 1,749.83 and the S&P 500 is up 12.55 at 886.19.
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