The early strength on
The data has generated some positive sentiment regarding the economy, although renewed worries about the outlook for interest rates have helped to limit the upside for the markets.
Nonetheless, housing stocks have moved notably higher in early trading, driving the Philadelphia Housing Sector Index up by 1.4%.
Brokerage, banking, and oil service stocks are also seeing early strength, while most of the other major sectors are showing more modest moves to the upside.
The major averages are currently posting moderate gains, near their highs for the young session. The Dow is up 57.81 points or 0.4% at 16,616.68, the Nasdaq is up 14.38 points or 0.4% at 4,141.83 and the S&P 500 is up 7.42 points or 0.4% at 1,891.10.
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