Major Averages Moving Moderately Higher In Early Trading

(RTTNews) - Following yesterday's Thanksgiving Day holiday, stocks have moved mostly higher in early trading on Friday. The major averages have all climbed into positive territory, extending the upward trend seen over the past few sessions.

The early strength on Wall Street reflects the recent upward momentum for the markets, which has lifted the Dow and the S&P 500 to record highs. The Nasdaq has also climbed above 4,000, reaching its best levels since 2000.

Trading activity remains somewhat subdued, however, with a lack of major U.S. economic data keeping investors on the sidelines. Some traders also remain away from their desks, as the U.S. stock markets will only be open for a half-day of trading.

Gold stocks have shown a strong move to the upside in early trading, driving the NYSE Arca Gold Bugs Index up by 1.6 percent. The index is climbing further off the five-year closing low set on Tuesday.

Significant strength has also emerged among steel stocks, as reflected by the 1.5 percent gain being posted by the NYSE Arca Steel Index. Most of the other major sectors are showing only modest moves.

The major averages have moved roughly sideways in recent trading, hovering near their highs for the young session. The Dow is up 46.17 points or 0.3 percent at 16,143.50, the Nasdaq is up 13.99 points or 0.4 percent at 3,058.74 and the S&P 500 is up 3.68 points or 0.2 percent at 1,810.91.