Stocks have moved notably higher over the course of the trading day on Tuesday, extending the upward trend seen over the past few weeks. With the gains on the day, the Dow and the S&P 500 have reached new record intraday highs.
Brokerage stocks have shown a strong move to the upside over the course of the trading day, resulting in a 1.8 percent gain by the NYSE Arca Broker/Dealer Index. The gain extends a recent upward move by the index, which has risen to a two-year intraday high.
Goldman Sachs (GS) and Raymond James (RJF) are turning in two of the brokerage sector's best performances, advancing by 3.2 percent and 3.7 percent, respectively.
Significant strength has also emerged among biotechnology stocks, as reflected by the 1.6 percent gain being posted by the NYSE Arca Biotechnology Index. With the gain, the index has reached a new record intraday high.
Banking stocks are also seeing considerable strength in mid-day trading, with the KBW Bank Index up by 1.4 percent. Housing, transportation, and chemical stocks are also posting strong gains.
The major averages are currently posting strong gains, near their highs for the session. The Dow is up 78.91 points or 0.5 percent at 15,170.59, the Nasdaq is up 27.37 points or 0.8 percent at 3,466.16 and the S&P 500 is up 14.01 points or 0.9 percent at 1,647.78.
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