A Broad-Based Rally Effort

Market bulls have been in command so far this session as the indices have pressed on to new session highs in the past half hour.
The latest move followed a dip in the averages that occurred when headlines hit the wires from a speech from Fed Vice Chairman Kohn who acknowledged the Fed has strongly urged banks to raise capital and that banks could face deteriorating loan quality.
Although the headlines didn't carry positive connotations, they also weren't anything the market didn't already known based on its own assessment of matters and previous commentary from other Fed officials. Accordingly, the market quickly regrouped from the aforementioned dip and is sporting solid gains in mid-morning trading.
All 10 economic sectors are in positive territory, with six sectors posting gains in excess of 1.0%. Telecom services, +2.7%, is the best-performing.