The early strength on
Nonetheless, an absence of US economic news has led to light trading activity as investors look ahead to some key data due to be released next week.
While most of the major sectors are showing only modest moves, significant strength has emerged among oil service stocks. The Philadelphia Oil Service Index has advanced by 1.2%, reaching its best intraday level in almost six years.
The strength among oil service stocks comes amid a notable increase by the price of crude oil, with crude for July delivery climbing
Pharmaceutical, healthcare, and banking stocks are also seeing some early strength, while weakness has emerged among software and housing stocks.
Currently, the major averages are clinging to slim gains. The Dow is up 42.25 points or 0.3% at 16,963.71, the Nasdaq is up 2.93 points or 0.1% at 4,362.25 and the S&P 500 is up 3.40 points or 0.2% at 1,962.88.
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