Major Averages Hovering In Positive Territory In Mid-Day Trading

(RTTNews) - After showing a lack of direction in early trading on Thursday, stocks have moved modestly higher over the course of the trading day. The strength that has emerged on Wall Street is extending the upward move seen in the previous session.

Despite the upward move by the broader markets, most of the major sectors continue to show only modest moves in mid-day trading.

Notable strength has emerged among airline stocks, however, with the NYSE Arca Airline Index climbing by 1.2 percent. United Continental (UAL) and American Airlines (AAL) are turning in two of the sector's best performances.

Biotechnology stocks have also shown a strong move to the upside, driving the NYSE Arca Biotechnology Index up by 1 percent.

Computer hardware, housing, and utilities stocks are also seeing some strength on the day, although buying interest has remained subdued.

The major averages have moved roughly sideways in recent trading, hovering in positive territory. The Dow is up 36.28 points or 0.2 percent at 16,688.08, the Nasdaq is up 9.75 points or 0.2 percent at 4,443.87 and the S&P 500 is up 5.33 points or 0.3 percent at 1,952.05.