2:30 pm : Pressure has picked up against the dollar so that the Dollar Index is down to a new 52-week low, where it trades with a near 1.1% loss. The downturn has helped to move stocks another leg higher, though their gains remain modest.

Despite broad gains, financials continue to lag. The sector is down 0.3% and is still the only one to trade with a loss. Weakness in the sector stems primarily from banks and diversified financial services outfits. However, select insurers are looking strong; as such, shares of Aflac (AFL 45.42, +0.90) are up a solid 2.0%DJ30 +24.57 NASDAQ +6.98 SP500 +3.95 NASDAQ Adv/Vol/Dec 1339/975 mln/1298 NYSE Adv/Vol/Dec 2036/506 mln/948

2:00 pm : After pulling back midday and entering into a sideways drift, stocks are gradually making their way upwards once again. They are off of session highs and gains remain modest, though.

Trading volume remains moderate, as expected. With just a couple of hours left before participants take off for the Thanksgiving holiday, fewer than 500 million shares have traded hands.

Oil prices have managed to extend their rebound to a 1.9% gain. The commodity was last quoted at $77.50 per barrel. Collective strength among commodities has driven the CRB Commodity Index to a 2.0% gain, which is the second-best single-session percentage advance this month -- the CRB surged 2.8% in a single session just last week. DJ30 +23.06 NASDAQ +7.13 SP500 +3.48 NASDAQ Adv/Vol/Dec 1328/891/1287 NYSE Adv/Vol/Dec 2027/459 mln/968

1:30 pm : Treasuries have garnered support in the wake of a $32 billion auction of 7-year Treasuries. The auction produced a yield of 2.84%, which is slightly below expectations, but attracted a bid-to-cover ratio of 2.76, which is above both the previous auction's bid-to-cover and recent averages. Ahead of the results the benchmark 10-year Note had been down roughly 10 ticks, but it is now in positive territory with a gain of just 1/32. That has put its yield back below 3.30%.

Meanwhile, stocks have entered a steady sideways crawl. They continue to trade with modest gains as a result.DJ30 +23.13 NASDAQ +6.18 SP500 +3.38 NASDAQ Adv/Vol/Dec 1280/934 mln/1308 NYSE Adv/Vol/Dec 1985/434 mln/974

1:00 pm : Action has been choppy this session, but stocks have made their way to modest gains with help from a weaker dollar and a generally pleasing lot of economic reports.

Renewed pressure against the greenback has sent the Dollar Index to a fresh 52-week low. The dollar is currently off by 0.8% against a basket of major foreign currencies.

While the dollar has provided a boon to the broader market, materials stocks have benefited the most. The sector is currently up 1.2%.

Gold has been a primary driver behind the sector's advance. With the dollar down, participants have chased the yellow metal to a new record of $1186.80 per ounce. It is currently just below that market with a 1.7% gain. 

Generally upbeat economic data has helped to keep participants in a positive mood this session. The latest dose of data indicated that both personal income and personal spending for October were up more than expected.

At 466,000, the latest initial jobless claims tally was less than expected and below 500,000 for the first time in one year. Continuing claims fell more than expected to a multimonth low of 5.42 million.

News of a stronger-than-expected increase in new home sales for October was also met with a positive response. Shares of homebuilders (XHB 14.73, +0.15) spiked on the announcement and continue to outperform the broader market.

There was one disappointing piece to the day's economic data, however. Durable goods orders for October made a surprise decline, but that was partly pardoned due to a sharp, upward revision to the orders for the previous month.

Earnings have played a secondary role this session. Deere (DE 53.77, +1.48) announced a positive earnings surprise, but disappointed investors with a tepid profit forecast. An encouraging conference call has helped its shares rebound from morning weakness, though.

Just two days ahead of "Black Friday," J. Crew Group (JCG 43.97, +3.12) posted positive earnings of its own and issued an in-line outlook. Its shares are providing leadership to those of other retailers, which are up 1.1% as a group.

Financials stand have been steady laggards in late morning and early afternoon trade. The sector is currently down 0.3% as participants continue to pressure diversified financial services stocks, which are down 1.1% this session and down 2.6% over the past two days.

Results from an auction of 7-year Treasuries (1:00 PM ET) are due imminently. The benchmark 10-year Note is down nearly 10 ticks ahead of the announcement.DJ30 +16.25 NASDAQ +5.06 SP500 +2.78 NASDAQ Adv/Vol/Dec 1293/771 mln/1279 NYSE Adv/Vol/Dec 1967/399 mln/979

12:30 pm : The Dow and S&P 500 have recently came within just a few points of their 2009 highs, but they have since surrendered a chunk of their gains. Still intact is this session's positive bias, though. That has helped nine of the 10 major sectors sport gains.

Financials remain the primary laggards. The sector is down 0.3%. On the other hand, materials stocks are faring the best and are now up 1.2%.DJ30 +24.87 NASDAQ +5.52 SP500 +3.15 NASDAQ Adv/Vol/Dec 1333/710 mln/1238 NYSE Adv/Vol/Dec 2008/367 mln/924

12:00 pm : Materials stocks have made their way to a 1.4% gain as the Dollar Index (-0.8%) eases back toward its morning lows. Gold remains a primary leader among materials issues; prices for the yellow metal registered a new record high of $1185.90 per ounce in recent action. It is currently just shy of that high.

Energy stocks have made their way up from an early loss. The sector is now up 0.6% as oil prices bounce to a 1.2% to $76.90 per barrel. Natural gas prices have just spiked to fresh session highs of $5.09 per contract, up some 6.5%, following a weekly inventory report that showed a smaller-than-expected build. DJ30 +39.00 NASDAQ +8.34 SP500 +4.49 NASDAQ Adv/Vol/Dec 1384/640 mln/1182 NYSE Adv/Vol/Dec 2085/321 mln/848

11:30 am : The stock market has chopped its way to a fresh session high. Gains are still moderate, though.

Financials stand out as laggards as they make up the only major sector to trade with a loss. The sector is currently down 0.1% after being up 0.4% in the early going. Its weakness stems primarily from losses among investment banks and brokerages (-1.0%) and ongoing pressure against diversified financial services stocks (-0.7%), which already fell 1.5% in the previous session. DJ30 +38.62 NASDAQ +7.66 SP500 +4.07 NASDAQ Adv/Vol/Dec 1400/557 mln/1136 NYSE Adv/Vol/Dec 2048/278 mln/850

11:00 am : Action has been choppy this morning, but the major indices have managed to make their way to a modest gain. Materials stocks, now up 1.0%, continue to make up the best performing sector.

Meanwhile, industrials (+0.3%) are gaining momentum as shares of Deere (DE 53.77, +1.48) shake free from early weakness to sport a solid gain. Its rebound has lent strength to Caterpillar (CAT 58.85, +0.84), which had also lagged in the early going.

Initial weakness in the pair stemmed from Deere's latest quarterly report, which featured better-than-expected earnings, but also included a tepid profit forecast. However, the two stocks have since gained ground as Deere conducts its conference call. During the call the company stated that the pace of its retail activity has increased. However, it also stated that an approximate 10% decline in sales of large agricultural products in 2010 will have a negative impact on margins. DJ30 +18.75 NASDAQ +6.10 SP500 +2.07 NASDAQ Adv/Vol/Dec 1403/446 mln/1058 NYSE Adv/Vol/Dec 1980/218 mln/889

10:35 am : Oil prices have moved into positive territory in the wake of the latest inventory report, which showed a build of 1.02 million barrels of crude for the week ending November 20. A build of 1.5 million barrels had been expected. Gasoline inventories for the same week had a build of 1 million barrels, which is more bearish than the build of 300,000 barrels that analysts had forecast. Oil was last quoted 0.1% higher at $76.10 per barrel.

Natural gas prices are up a sharp 3.9% to $4.95 per contract. Weekly inventory data for natural gas is due at 12:00 PM ET.

Precious metals are garnering particularly strong support. Gold prices made their way to new record highs of $1183.20 per ounce, but were last quoted at $1180.40 per ounce, up 1.3%.

Meanwhile, silver was last quoted at $18.65 per ounce, up 1.0%. DJ30 +15.50 NASDAQ +3.75 SP500 +1.67 NASDAQ Adv/Vol/Dec 1265/358 mln/1131 NYSE Adv/Vol/Dec 1843/177 mln/975

10:00 am : Stocks have spiked to morning highs in the wake of new home sales figures for October. According to the data, sales increased 6.2% month-over-month to an annualized rate of 430,000 units. The consensus had called for a 0.4% increase to an annual rate of 404,000 units.

Early movers: Trading up -- GGR +19.7%, TBH +14.3%, INCY +9.8%, DRAD +9.4%, HEV +8.3%, JCG +7.1%; Trading down -- DRAM -15.6%, CONN -13.3%, SQNM -11.3%, SAY -10.9%, CWTR -9.5%

Advancing Sectors: Materials (+0.7%), Consumer Discretionary (+0.5%), Health Care (0.3%), Telecom (+0.3%), Tech (+0.3%), Financials (+0.2%), Industrials (+0.1%)
Declining Sectors: Energy (-0.1%)
Unchanged: Utilities, Consumer StaplesDJ30 +5.59 NASDAQ +4.86 SP500 +1.16 NASDAQ Adv/Vol/Dec 1164/196 mln/1085 NYSE Adv/Vol/Dec 1696/103 mln/1036

09:45 am : This morning's positive bias faded into the open. That has left stocks to trade in mixed fashion in the early going.

Materials stocks are up just 0.3% as a group, but that's the best gain of any major sector. Its strength stems from gains among diversified metals and miners (+0.4%) and gold stocks (+1.3%). Gold prices made their way to new record highs of $1183.20 per ounce in recent trade. The yellow metal is currently at $1179.70 per ounce, up 1.2%.

Conversely, oil prices are under pressure ahead of the latest weekly inventory report (10:30 AM ET). Crude contracts were last quoted at $75.85 per barrel, down 0.3%. That has weighed on the energy sector so that it trades with a 0.5% loss, worse than any other major sector. DJ30 -2.41 NASDAQ +2.96 SP500 -0.70 NASDAQ Adv/Vol/Dec 1105/128 mln/1076 NYSE Adv/Vol/Dec 1568/74 mln/1074

09:15 am : S&P futures vs fair value: +2.70. Nasdaq futures vs fair value: +7.00.  Thanks largely to a sharp drop in the greenback, stock futures have been sporting a lead over fair value for the entire morning. Though they continue to point to a positive start for stocks, they are off of morning highs, which were reached shortly after a flurry of economic data. The data featured solid personal income and spending increases for October and initial jobless claims that fell more than expected to a new 12-month low. Durable goods orders for October made a surprisingly strong dip, but that was balanced by an upwardly revised increase for the previous month's data. Still to come are new home sales figures for October (10:00 AM ET), along with weekly oil inventory data (10:30 AM ET), natural gas inventories (12:00 PM ET), and results from an auction of 7-year Treasuries (1:00 PM ET).

09:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +10.00.  A generally pleasing dose of U.S. economic data has helped Europe's major bourses extend their gains this session. At the moment, the DAX is up 0.9% with Siemens (SI) providing key leadership. Conversely, Commerzbank is a primary laggard. The lender will post further charges in 2010, including provisions and portfolio impairments. In France, the CAC is up 1.1%. Financials are showing particular strength as Societe Generale, Credit Agricole, and BNP Paribas advance. In Britain, the FTSE is sporting an 0.8% gain. Its advancers have a near 3-to-1 edge over its declining issues. Natural resource plays BHP Billiton (BHP) and Anglo American are primary leaders. Royal Dutch Shell (RDS.A) is also making an advance. According to The Wall Street Journal, Royal Dutch has two natural-gas projects in Qatar that will increase the company's cash flow by $4 billion a year when they are up and running in 2011. Separately, reports from the Office for National Statistics confirm that the country is still in a slump; revised national output figures show that the economy contracted by 0.3% in the third quarter. In Asia, Japan's Nikkei advanced 0.4% after it had dipped in and out of negative territory during trade. Persistent concerns about more potential equity financing from and a rising yen kept on the pressure. Still, exporters were able to garner support as data showed Japan's exports grew in October. In Hong Kong, the Hang Seng advanced 0.8% after it overcame early losses. Property developer Fantasia Holdings spiked during its debut in active trade. In mainland China, the Shanghai Composite closed 2.1% higher after its steepest slide in three months during the previous session. The MSCI Asia Pacific Index closed 0.8% higher.

08:35 am : S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +11.80.  Stock futures have ticked up a few points following the latest flurry of economic reports. According to the latest data, personal income for October increased 0.2%, which is slightly stronger than the 0.1% increase that had been widely expected. Data for September was revised higher to reflect a 0.2% increase, as well. Personal spending for October was up 0.7%, which is stronger than the 0.5% that many had forecast. Spending for the previous month had fallen 0.6%. Core personal consumption expenditures (PCE) for October increased 0.2% month-over-month; that is better than the 0.1% increase that had been expected. Core PCE was flat in September. Durable goods orders showed a surprise 0.6% decline. The consensus called for a 0.5% increase after an upwardly revised 2.0% increase in September. Initial jobless claims for the week ending November 21 fell 35,000 to 466,000, which is below the 500,000 that had been widely expected. The latest initial claims tally marks the first time that claims have fallen below 500,000 in over one year. Continuing claims fell to 5.42 million from 5.61 million. They were expected to come in at 5.57 million.

08:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +9.50.  Renewed weakness in the U.S. dollar has taken the Dollar Index to a new 12-month low. That has helped spur some modest buying in equities this morning. Deere & Companay (DE) is down about 2% to $51.23 per share in premarket trade, though; the company topped the consensus earnings estimate for its latest quarter, but issued a conservative income forecast. Meanwhile, J Crew Group (JCG) is up more than 7% to $43.97 per share after posting a positive earnings surprise and issuing an in-line outlook. A flurry of economic reports is expected at the bottom of the hour. The list features personal income and spending data for October, durable goods orders for October, and the latest weekly jobless claims tally. New home sales figures for October follow at 10:00 AM ET. Weekly inventory data for both crude oil (10:30 AM ET) and natural gas (12:00 PM ET) will be released today due to Thanksgiving on Thursday -- U.S. markets are closed in observance of the holiday, so trading volume is expected to remain light ahead of it. In addition to data, participants will also keep an eye on Treasuries as they await results from an auction of 7-year Treasuries at 1:00 PM ET.

06:33 am : S&P futures vs fair value: +4.40. Nasdaq futures vs fair value: +8.80.  

06:33 am : Nikkei...9441.64...+40.10...+0.40%. Hang Seng...22611.80...+188.70...+0.80%.

06:33 am : FTSE...5353.78...+30.00...+0.60%. DAX...5789.67...+20.40...+0.40%.

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