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Major Averages Remain At Upper End Of Day`s Range, Still Off Highs - Commentary

(RealTimeTraders.com) - In the first part of the last half hour, the major averages backed further off their highs. In the last few minutes, however, they have ticked up again, keeping within the upper half of their intraday trading range.

Stocks rose in the early going on positive economic data, with the Dow moving up to a new 52-week high and the Nasdaq reigniting its recent winning streak. Dow +61.27, Nasdaq +17.24, S&P 500 +6.50. NYSE Adv/Dec 2080/776, Nasdaq Adv/Dec 1847/887.

Twenty-four of the thirty Dow stocks are to the upside after an hour and a half of trading, with Boeing (BA) as the blue chips' percentage leader, climbing more than 2% so far.

Disney (DIS) and McDonald's (MCD) are the biggest percentage losers among the Dow components, though they are down less than 1%. Hewlett-Packard (HPQ), which was down more than 10% Wednesday after the company reported worse-than-expected earnings for its third quarter, is down again Thursday, also by less than 1%.

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