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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.