Stocks have moved modestly higher in early trading on Friday, adding to the strong gains posted in the previous session. The major averages have all climbed into positive territory, although buying interest remains somewhat subdued.
The early strength on Wall Street reflects continued optimism about the possibility of further stimulus from the world's central banks.
Adding to the optimism, the U.K. government and the Bank of England announced additional measures to boost the credit and financial markets.
The measures will offer banks billions of pounds in cheap credit in an effort to stimulate lending while also providing access to short-term money to deal with "exceptional market stresses."
Nonetheless, trading activity is somewhat subdued amid lingering uncertainty about the outcome of this weekend's elections in Greece.
Railroad stocks have shown a strong move to the upside in early trading, driving the Dow Jones Railroads Index up by 1.1 percent. Software, steel, and oil service stocks are also seeing notable strength, although most of the major sectors are showing only modest moves.
The major averages are currently posting modest gains, not far off their highs for the young session. The Dow is up 52.52 points or 0.4 percent at 12,704.43, the Nasdaq is up 6.16 points or 0.2 percent at 2,842.49 and the S&P 500 is up 4.69 points or 0.4 percent at 1,333.79.
by RTT Staff Writer
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