Major Averages Posting Modest Gains In Mid-Day Trading

(RTTNews) - While buying interest has remained relatively subdued, stocks are seeing modest strength in mid-day trading on Thursday. The gains on the day have largely offset the pullback that was seen late in the previous session.

The modest strength on Wall Street reflects a positive reaction to the mixed batch of economic data released this morning, including a report from the Labor Department showing a bigger than expected drop in initial jobless claims.

A majority of the major sector indices have moved to the upside on the day, although most continue to show only modest moves.

While some strength has emerged among tobacco, oil service, and gold stocks, buying interest has remained relatively subdued.

The major averages are currently posting slim gains, off their highs for the session. The Dow is up 18.27 points or 0.1 percent at 16,651.45, the Nasdaq is up 12.02 points or 0.3 percent at 4,237.09 and the S&P 500 is up 3.82 points or 0.2 percent at 1,913.60.