Major Averages Posting Strong Gains In Early Trading

(RTTNews) - After ending the previous session mixed, stocks have moved mostly higher in early trading on Friday. The major averages have all climbed into positive territory, with the tech-heavy Nasdaq reaching its best levels since early 2000.

The early strength on Wall Street is partly due to weakness in the value of the U.S. dollar, with the greenback sliding to $1.0783 versus the euro compared to yesterday's $1.0660.

The dollar is on pace for its biggest weekly drop since 2013 amid indications that the Federal Reserve plans to raise interest rates more slowly than previously anticipated.

Gold stocks have shown a substantial move to the upside in early trading, driving the NYSE Arca Gold Bugs Index up by 3.7 percent. The strength in the sector comes as gold for April delivery is climbing $11.90 to $1,180.90 an ounce.

Significant strength is also visible among energy stocks, which are moving higher along with the price of crude oil. Crude for May delivery is currently jumping $1.09 to $46.62 a barrel.

Housing, steel, and computer hardware stocks are also seeing early strength, moving higher along with most of the other major sectors.

Currently, the major averages are posting strong gains, near their highs for the young session. The Dow is up 169.86 points or 1 percent at 18,128.89, the Nasdaq is up 37.89 points or 0.8 percent at 5,030.27 and the S&P 500 is up 17.59 points or 0.8 percent at 2,106.86.