The major averages have recently pulled back off their best levels of the day but remain firmly positive. The Dow is up 39.40 points or 0.2% at 16,963.68, the Nasdaq is up 22.79 points or 0.5% at 4,344.19 and the S&P 500 is up 5.26 points or 0.3% at 1,954.70.
The strength that has emerged on
Positive sentiment has also been generated by upbeat economic data from
A report from
Nonetheless, trading activity has remained somewhat subdued amid a lack of major US economic data on the day.
Some key data is scheduled to be released later in the week, including reports on retail sales, producer prices, and consumer sentiment.
Among individual stocks, shares of
On the other hand, shares of
Biotechnology stocks are seeing significant strength in mid-day trading, resulting in a 1.5% gain by the NYSE Arca Biotechnology Index. The gain extends a recent upward move by the index, which has reached its best intraday level in over two months.
While Idenix is leading the sector higher,
Considerable strength has also emerged among banking stocks, as reflected by the 1.2% gain being posted by the Dow Jones Banks Index. With the gain, the index has reached a two-month intraday high.
Defense, housing, and electronic storage stocks are also turning in strong performances, while some weakness is visible among utilities stocks.
In overseas trading, stock markets across the
The major European markets also showed modest moves to the upside on the day. The
In the bond market, treasuries are seeing modest weakness, extending a recent downward trend. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.3 basis points at 2.62%.
Most Popular Stories
- McDonald's Packages Coffee for National Distribution
- Uber Hires Obama Campaign Manager David Plouffe
- HTC Makes Windows Version of Flagship One Phone
- Rising Freight Prices Signal Global Recovery
- Russia Claims Ukraine Leaders Are Satanists, Jews or Maybe Even Scientologists
- Bob Marley Musical to Make Premiere in Baltimore
- Ballmer Steps Down From Microsoft Board
- Castro-Blanco Joins Fifth Street Finance Board
- Eric Holder Bringing Civil Rights Reminders to Ferguson
- Sprint Cancels Framily, Rolls Out New Data Pricing Plan