After moving to the upside in early trading on Thursday, stocks remain mostly positive in the late morning. The major averages are currently all in positive territory, with the tech-heavy Nasdaq outperforming its counterparts.
While tech stocks helped to lead the markets higher once again, buying interest waned following the release of a batch of disappointing U.S. economic data.
Nonetheless, considerable strength remains visible among electronic storage stocks, as reflected by the 3.5 percent gain being posted by the NYSE Arca Disk Drive Index. Hutchinson Technology (HTCH) and Quantum (QTM) are turning in two of the storage sector's best performances.
Semiconductor stocks also continue to see significant strength, resulting in a 2.6 percent gain by the Philadelphia Semiconductor Index. The index is adding to the 3.6 percent gain it posted on Wednesday.
Telecom, railroad, and oil service stocks also continue to post strong gains, while notable weakness has emerged among healthcare, housing, and airline stocks.
Currently, the Nasdaq is posting a notable gain, advancing by 21.83 points or 0.7 percent to 2,964.43. Meanwhile, the Dow and the S&P 500 are posting more modest gains. The Dow is up 20.66 points or 0.2 percent at 12,929.36 and the S&P 500 is up 3.41 points or 0.3 percent at 1,376.19.
by RTT Staff Writer
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