Stocks See Initial Strength Following Recent Weakness - U.S. Commentary

(RTTNews) - Stocks moved higher at the start of trading on Monday, with the major averages moving back to the upside after showing a notable move to the downside over the course of the previous week. Some traders may be going bargain hunting following recent weakness.

The initial strength in the markets is due in large part to early gains by banking stocks, with some strength also visible among brokerage and health insurance stocks. On the other hand, transportation stocks have come under considerable selling pressure.

In the past few minutes, the Dow and the S&P 500 have risen to new highs for the young session, while the Nasdaq has pulled back well off its best level. The Dow is currently up 44.89 at 8,191.41, the Nasdaq is up 2.99 at 1,759.02 and the S&P 500 is up 4.99 at 884.12.

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