RTTNews - While buying interest has waned from earlier in the session, stocks continue to see modest strength in late morning trading on Monday. The major averages remain in positive territory, although they have pulled back well off their best levels of the day.
The modest strength in the markets comes as traders react positively to the latest batch of earnings as well as reports that commercial lender CIT Group (CIT) has secured enough funding to avoid filing for bankruptcy.
Airline stocks are turning in some of the market's best performances, with the sector extending a recent upward move. The NYSE Arca Airline Index is currently up 4.5 percent, rising to its best intraday level in over two months.
With the price of gold seeing some strength, gold stocks are also posting notable gains. While significant strength also remains visible among steel, railroad, and brokerage stocks, oil service stocks have turned lower over the course of the session.
The major averages have moved to the upside in recent trading, but they remain well off their highs for the session. The Dow is currently up 37.33 at 8,781.27, the Nasdaq is up 7.96 at 1,894.57 and the S&P 500 is up 3.38 at 943.76.
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