WASHINGTON (dpa-AFX) - While buying interest has remained relatively subdued, stocks continue to see modest strength in mid-day trading on Thursday. The major averages have all moved to the upside after ending each of the two previous sessions mixed.
Oil service stocks continue to see considerable strength in mid-day trading, with the Philadelphia Oil Service Index jumping by 2.5 percent. The index is climbing further off the nearly one-month closing low it set on Tuesday.
The strength among oil service stocks comes amid a sharp increase by the price of crude oil, as crude for July delivery is surging up $1.77 to $60.75 a barrel.
Significant strength has also emerged among railroad stocks, as reflected by the 1.7 percent gain being posted by the Dow Jones Railroads Index. American Railcar (ARII) and Kansas City Southern (KSU) are posting notable gains.
Telecom, natural gas, and retail stocks are also seeing some strength on the day, while most of the other major sectors are showing more modest moves.
In recent trading, the major averages have pulled back off their highs for the session, but they remain in positive territory. The Dow is up 12.98 points or 0.1 percent at 18,298.38, the Nasdaq is up 17.88 points or 0.4 percent at 5,089.63 and the S&P 500 is up 6.19 points or 0.3 percent at 2,132.04.
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