(RTTNews) - Stocks have shown a strong upward move in early trading on Monday, with the major averages extending the upward move seen over the course of last week. The Dow has climbed back near the one-year highs it set in mid-October.

The strength in the markets is partly due to the gains shown by overseas stocks after the G20 finance ministers indicated that their economic stimulus measures would remain in place until the global economic recovery is assured.

With commodities prices on the rise, resource stocks are turning in some of the market’s best performances early on. Gold stocks are posting particularly strong gains, as the price of the precious metal has risen to a new record high.

Significant strength has also emerged in a variety of other sectors, with semiconductor, wireless, and airline stocks posting notable gains. Most of the other major sectors have also moved to the upside in early trading.

The major averages have seen some further upside in the past few minutes, rising to new highs for the young session. The Dow is currently up 86.76 at 10,110.18, the Nasdaq is up 24.19 at 2,136.63 and the S&P 500 is up 10.08 at 1,079.38.

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Posted in Categories: Economy, Releases, USA.

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