The early strength on
Before the start of trading,
The markets have also benefited from news on the merger-and-acquisition front, with
A vast majority of the major sectors have moved to the upside in early trading, although most are showing only modest moves.
Brokerage stocks are seeing considerable strength, however, with the NYSE Arca Broker/Dealer Index climbing by 1.1%.
Oil service, transportation, and defense stocks are also seeing early strength, while gold stocks have come under pressure amid a sharp drop by the price of the precious metal.
In recent trading, the major averages have moved roughly sideways, hovering near their highs for the young session. The Dow is up 120.88 points or 0.7% at 17,064.69, the Nasdaq is up 22.86 points or 0.5% at 4,438.35 and the S&P 500 is up 10.02 points or 0.5% at 1,977.59.
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