With traders reluctant to make any significant moves, stocks turned in another lackluster performance during trading on Thursday. The major averages remained stuck near the unchanged line throughout the session after ending the previous session nearly flat.
While most of the major sectors showed only modest moves on the day, considerable strength was visible among networking stocks. The NYSE Arca Networking Index advanced by 1.7 percent, reaching a new one-month closing high.
Infinera (INFN), Juniper Networks (JNPR) and Cisco (CSCO) turned in some of the networking sector's best performances.
Housing stocks also saw significant strength, driving the Philadelphia Housing Sector Index up by 1.5 percent. KB Home (KBH) and Hovnanian Enterprises (HOV) posted standout gains.
Brokerage, gold, and oil service stocks also moved to the upside on the day, although buying interest was relatively subdued.
On the other hand, airline stocks came under considerable selling pressure, dragging the NYSE Airline Index down by 1.4 percent. Railroad and trucking stocks also saw notable weakness.
The major averages eventually ended the session mixed, with the Dow edging down 10.45 points or 0.1 percent to 13,165.19, while the Nasdaq rose 7.39 points or 0.3 percent to 3,018.64 and the S&P 500 crept up 0.58 points or less than a tenth of a percent to 1,402.80.
by RTT Staff Writer
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