Major Averages Hovering In Positive Territory In Mid-Day Trading

(RTTNews) - After moving higher in early trading, stocks remain mostly positive in mid-day trading on Friday. The gains on the day have lifted the Dow and the S&P 500 to new record closing highs.

Gold stocks are turning in some of the market's best performances, driving the NYSE Arca Gold Bugs Index up by 3.1 percent. The strength in the sector comes as gold for February delivery is jumping $20.40 to $1,193.90 an ounce.

Significant strength is also visible among biotechnology stocks, as reflected by the 2.2 percent gain being posted by the NYSE Arca Biotechnology Index. Exact Sciences (EXAS) and Regeneron Pharmaceuticals (REGN) are posting notable gains.

Steel, utilities, and airline stocks are also seeing considerable strength, moving higher along with most of the other major sectors.

Nonetheless, trading activity has remained somewhat subdued, as many traders remain away from their desks following the Christmas Day holiday on Thursday.

The major averages have moved roughly sideways in recent trading, hovering in positive territory. The Dow is up 48.84 points or 0.3 percent at 18,079.05, the Nasdaq is up 29.43 points or 0.6 percent at 4,802.90 and the S&P 500 is up 8.88 points or 0.4 percent at 2,090.76.