RTTNews - Stocks moved sharply higher at the start of trading on Wednesday, with the major averages seeing some further upside after closing higher in the two previous sessions. The initial strength reflects a positive reaction to the latest batch of earnings and economic news.

With traders reacting positively to better than expected earnings from Intel (INTC), semiconductor stocks are turning in some of the best performances in early trading. Gold, networking, airline, and energy stocks are also seeing significant early strength.

The major averages have continued to move higher in the past few minutes, rising to new highs for the young session. The Dow is currently up 105.65 at 8,465.14, the Nasdaq is up 31.53 at 1,831.26 and the S&P 500 is up 11.65 at 917.49.

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