Major Averages Posting Modest Gains In Early Trading

(RTTNews) - Stocks have moved modestly higher in early trading on Friday, regaining some ground after trending lower over the past few sessions. The major averages have all moved to the upside, although buying interest has remained subdued.

The early strength on Wall Street is partly due to bargain hunting, with some traders picking up stocks at reduced levels following the recent pullback.

With worries about the outlook for the Federal Reserve's stimulus program weighing on the markets, the Dow and the S&P 500 both ended Thursday's trading at their worst closing levels in a month.

Traders seem somewhat reluctant to buy stocks, however, as news that the House voted to approve a bipartisan budget bill to keep the U.S. government operating for the next two fiscal years has added to recent worries about the Fed.

Gold, housing, and commercial real estate stocks are seeing some early strength, although most of the major sectors are showing only modest moves.

The major averages have pulled back off their highs for the young session but are currently clinging to slim gains. The Dow is up 7.77 points or 0.1 percent at 15,747.20, the Nasdaq is up 7.60 points or 0.2 percent at 4,006.01 and the S&P 500 is up 1.35 points or 0.1 percent at 1,776.85.