Major Averages Posting Modest Gains In Mid-Day Trading

(RTTNews) - Stocks have shown a significant rebound over the course of the trading day on Thursday after coming under pressure at the open. The turnaround by the markets comes as traders have shrugged off a pair of disappointing economic reports as weather-related.

A majority of the major sectors have turned higher over the course of the session, although most are showing only modest moves.

Gold stocks are seeing substantial strength, however, regaining some ground after ending the previous session sharply lower. The NYSE Arca Gold Bugs Index has surged up by 2.1 percent, partly offsetting Wednesday's 2.8 percent drop.

The rebound by gold stocks comes amid a modest increase by the price of the precious metal, with gold for April delivery rising $3.40 to $1,298.40 an ounce.

Tobacco, computer hardware, and semiconductor stocks are also seeing some strength, although buying interest has remained relatively subdued.

The major averages have moved roughly sideways in recent trading, holding on to modest gains. The Dow is up 29.40 points or 0.2 percent at 15,993.34, the Nasdaq is up 18.85 points or 0.5 percent at 4,220.14 and the S&P 500 is up 4.54 points or 0.3 percent at 1,823.80.