Major Averages Remain In Positive Territory In Mid-Day Trading

(RTTNews) - After moving modestly higher in early trading, stocks have continued to perform well over the course of the trading day on Thursday. The markets are benefiting from a positive reaction to upbeat jobs data, although buying interest has remained relatively subdued.

Steel stocks continue to see significant strength in mid-day trading, with the NYSE Arca Steel Index up by 1.6 percent. The index is climbing further off Monday's one-month closing low.

Mechel (MTL) and AK Steel (AKS) are turning in two of the sector's best performances, jumping by 7.5 percent and 4.4 percent, respectively.

Considerable strength has also emerged among airline stocks, as reflected by the 1.4 percent gain being posted by the NYSE Arca Airline Index. The gain extends a recent upward trend by the index, which has reached its best intraday level in almost twelve years.

Gold stocks have also moved notably higher, benefiting from an increase by the price of the precious metal. With gold for April delivery climbing $7.70 to $1,348 an ounce, the NYSE Arca Gold Bugs Index is up by 1.5 percent.

Chemical, oil service, and railroad stocks are also seeing some strength on the day, while tobacco stocks continue to give back ground following the rally seen earlier this week.

The major averages are currently posting moderate gains, near their best levels of the day. The Dow is up 88.11 points or 0.5 percent at 16,448.29, the Nasdaq is up 11.44 points or 0.3 percent at 4,369.41 and the S&P 500 is up 7.98 points or 0.4 percent at 1,881.79.