While buying interest has remained relatively subdued, stocks have moved mostly higher over the course of morning trading on Thursday. The major averages have all climbed into positive territory after turning mixed earlier in the session.
The modest upward move comes on the heels of the release of a report from the Labor Department showing a bigger than expected drop in weekly jobless claims, with the data generating some optimism about Friday's monthly employment report.
Traders are also digesting remarks from Federal Reserve Chairman Ben Bernanke, who told the House Budget Committee that the U.S. economy is on the mend but is not yet ready to stand on its own two feet without help from the Fed.
Gold stocks have shown a strong move to the upside on the day, driving the NYSE Arca Gold Bugs Index up by 2.3 percent. The strength among gold stocks comes amid an increase by the price of the precious metal, with gold for April delivery climbing more than $12 an ounce.
Notable strength has also emerged among biotechnology, telecom, oil service, and steel stocks, although weakness remains visible among healthcare provider stocks.
While the major averages are currently all posting gains, the tech-heavy Nasdaq is outperforming its counterparts. The Nasdaq is up 18.66 points or 0.7 percent at 2,866.93, while the Dow is up 17.34 points or 0.1 percent at 12,733.80 and the S&P 500 is up 4.68 points or 0.4 percent at 1,328.77.
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Market Analysis
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.