RTTNews - After seeing some volatility early in the session, stocks are seeing considerable strength in late morning trading on Thursday. The major averages have all moved firmly into positive territory after ending the previous session sharply lower.
The rebound may be partly due to bargain hunting, with traders picking up stocks at reduced levels following the selling seen in the past few sessions. Semiconductor stocks are turning in some of the best performances after some recent weakness.
Significant strength has also emerged among housing, banking, and transportation stocks, which are regaining some ground after trending lower earlier this week. Within the transportation sector, airline stocks are posting particularly strong gains.
On the other hand, utilities stocks are bucking the uptrend by the broader markets, with the Dow Jones Utilities Average currently down 1 percent. FirstEnergy (FE), American Electric Power (AEP), and PSEG (PEG) are posting notable losses.
The major averages have seen some further upside in recent trading, with the Nasdaq and the S&P 500 rising to new highs for the session. The Dow is currently up 53.04 at 8,337.93, the Nasdaq is up 22.29 at 1,686.48 and the S&P 500 is up 8.60 at 892.52.
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