Major Averages Hovering Near Their Best Levels Of The Day

(RTTNews) - After moving sharply higher earlier in the session, stocks have continued to turn in a strong performance over the course of the trading day on Monday. The major averages are adding to the gains posted in the two previous sessions, climbing further off last Wednesday's multi-month lows.

Steel stocks have shown a substantial move to the upside in recent trading, driving the NYSE Arca Steel Index up by 3.1 percent. The index is climbing further off the six-year closing low it set last Wednesday.

AK Steel (AKS), Cliffs Natural Resources (CLF), and U.S. Steel (X) are turning in some of the sector's best performances on the day.

Considerable strength also remains visible among airline stocks, as reflected by the 2.4 percent gain being posted by the NYSE Arca Airline Index. Brazilian airline GOL (GOL) is posting a standout gain, jumping by 14.1 percent.

Internet, trucking, biotechnology, and retail stocks are also seeing notable strength in mid-day trading, moving higher along with most of the other major sectors.

Currently, the major averages are hovering near their best levels of the day. The Dow is up 191.91 points or 1.1 percent at 17,952.32, the Nasdaq is up 65.08 points or 1.3 percent at 5,062.78 and the S&P 500 is up 18.97 points or 0.9 percent at 2,095.59.