After showing a lack of direction in early trading on Wednesday, stocks have moved mostly higher over the course of the morning. The major averages have moved more firmly into positive territory after ending the previous session modestly lower.
The upward move is partly due to the release of some better than expected economic data, including a Labor Department report showing that weekly jobless claims fell below 500,000 as well as a Commerce Department report showing strong new home sales growth in October.
Gold stocks are turning in some of the market's best performances, benefiting from a continued increase by the price of the precious metal. With gold for December delivery currently up $15 at $1,180.80 an ounce, the NYSE Arca Gold Bugs Index is currently up 2 percent.
Most of the other major sectors have also moved to the upside, with airline, steel, electronic storage, and retail stocks posting notable gains. US Airways (LCC) is helping to lead the airline sector, as traders react to the airline's liquidity improvement program.
The major averages reached new highs for the session in recent trading, but they have given back some ground in the past few minutes. The Dow is currently up 37.34 at 10,471.05, the Nasdaq is up 7.68 at 2,176.86 and the S&P 500 is up 3.94 at 1,109.59.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.