Major Averages Climbing To New Highs For The Session

(RTTNews) - With traders picking up stocks at somewhat reduced levels following yesterday's sell-off, stocks have moved notably higher over the course of the trading day on Wednesday.

After seeing substantial weakness in the previous session, airline stocks have shown a strong move back to the upside on the day. The NYSE Arca Airline Index is climbing by 1.4 percent, bouncing off its worst closing level in over five months.

Hawaiian Airlines parent Hawaiian Holdings (HA) is posting a standout gain within the airline sector, jumping by 6.6 percent.

Biotechnology stocks have also moved notably higher over the course of the trading day, driving the NYSE Arca Biotechnology Index up by 1.2 percent. The gain extends a recent uptrend by the index, which has reached a two-month intraday high.

BioMarin (BMRN), Vertex (VRTX), and Alnylam (ALNY) are turning in some of the biotech sector's best performances.

The major averages have seen some further upside in recent trading, reaching new highs for the session. The Dow is up 120.31 points or 0.7 percent at 18,161.85, the Nasdaq is up 47.79 points or 1 percent at 5,080.54 and the S&P 500 is up 15.09 points or 0.7 percent at 2,119.29.