YAHOO [BRIEFING.COM]: Weakness overseas and concerns regarding trade with China weighed on sentiment in the early going, but stocks worked their way out of negative territory to finish the session at fresh highs for 2009.

The stock market started the session with a loss of roughly 0.7% as several major foreign markets were knocked lower by profit takers. The case for paring positions also seemed appropriate since it appeared that the major U.S. indices were losing momentum after slipping from 2009 highs last Friday to log a loss and finish last week on a down note. Participants were also a bit unsettled by news that China's trade officials have threatened to restrict chicken and auto product imports from the U.S. in response to the decision by U.S. officials to place punitive sanctions on Chinese tire imports. Goodyear Tire (GT 17.78, +0.51) and Cooper Tire (CTB 15.60, +1.03) were helped by the story, but Sanderson Farms (SAFM 40.01, -0.28) and Tyson Foods (TSN 12.45, -0.30) were hurt.

Despite the inclination to sell this morning, buyers showed resolve and began pushing stocks higher. Their efforts gained momentum as short sellers were forced to cover their positions. Stocks did run into a bit of resistance as they encountered the 2009 highs that were registered late last week. However, a final push in the closing minutes of trade helped the stock market settle at its best level of the year. The S&P 500 is now up more than 16% year-to-date.

Sprint Nextel (S 4.15, -0.38) provided the most leadership to the broader market this session. The stock benefited from news that Deutsche Telekom may be interested in making a bid for the company, though Deutsche Telekom later stated that it doesn't plan to make a major U.S. purchase before year end. Still, the stock made its biggest single-session percentage advance in five months. Its leadership wasn't enough to prevent a 0.2% loss in the telecom sector, which was the only major sector to finish in the red.

Gains were strongest among utilities stocks, which have lagged in recent sessions. The sector advanced 1.6% after electric utilities (+1.7%) were given positive coverage in a Barron's article.

Financial stocks also showed leadership in the late move. They were down as much as 1% in the early going, but finished 1.6% higher.

Materials stocks also finished 1.6% higher, though commodities saw mixed action. Crude oil futures closed down 0.6% at $68.85 per barrel, while gold settled 0.5% lower at $1,001 per ounce following a report from the Daily Telegraph that said London's leading gold forecaster has advised clients to liquidate holdings of the yellow metal. Still, the broader CRB Commodity Index was able to rebound to a 0.6% gain. DJ30 +21.39 NASDAQ +10.88 NQ100 +0.5% R2K +1.1% SP400 +1.1% SP500 +6.61 NASDAQ Adv/Vol/Dec 1623/2.17 bln/1046 NYSE Adv/Vol/Dec 2000/1.21 bln/966