After moving notably higher early in the session, stocks continue to see considerable strength in mid-day trading on Wednesday. With the upward move, the Dow has reached its best intraday level in almost a month.
In recent trading, the major averages reached new highs for the session. The Dow is up 312.33 points or 1.2 percent at 25,947.34, the Nasdaq is up 148.24 points or 2 percent at 7,524.20 and the S&P 500 is up 39.88 points or 1.5 percent at 2,795.33.
The strength on Wall Street comes as the results of the highly anticipated midterm elections on Tuesday came largely in line with expectations.
Software stocks continue to turn in some of the market's best performances on the day, with the Dow Jones Software Index surging up by 3.9 percent. With the jump, the index has reached its best intraday level in nearly a month.
Substantial strength also remains visible among healthcare stocks, as reflected by the 2.6 percent spike by the Dow Jones Health Care Index.
Retail stocks have also shown a significant move to the upside on the day, driving the Dow Jones Retail Index up by 2.4 percent.
Pharmaceutical, transportation, and biotechnology stocks are also seeing considerable strength, while tobacco stocks are among the few groups bucking the uptrend.
Meanwhile, the major European markets all moved higher on the day. While the German DAX Index advanced by 0.8 percent, the U.K.'s FTSE 100 Index is and the French CAC 40 Index surged up by 1.1 percent and 1.2 percent, respectively.
In the bond market, treasuries have moved to the upside ahead of tomorrow's Fed announcement. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 3 basis points at 3.184 percent.