Major Averages Holding On To Modest Gains In Mid-Day Trading

(RTTNews) - While buying interest has remained relatively subdued, stocks continue to see modest strength in mid-day trading on Monday. With the gains on the day, the markets are extending the strong upward move that was seen last week.

Biotechnology stocks continue to see considerable strength, with the NYSE Arca Biotechnology Index climbing by 1.5 percent. Earlier in the session, the index reached its best intraday level in two months.

Celldex Therapeutics (CLDX) has helped to lead the biotech sector higher, jumping 11.4 percent after reporting positive trial data for its experimental drug Rintega.

Considerable strength is also visible among natural gas stocks, as reflected by the 1.3 percent gain being posted by the NYSE Arca Natural Gas Index. The index is rebounding after ending the previous session at its lowest closing level in well over a month.

Retail, oil service, and airline stocks are also seeing some strength, while notable weakness has emerged among railroad stocks.

The Dow briefly dipped into negative territory but is currently up 3.65 points or less than a tenth of a percent at 17,827.46. The Nasdaq is up 14.11 points or 0.3 percent at 5,119.03, and the S&P 500 is up 3.76 points or 0.2 percent at 2,092.93.