Dow And S&P 500 Close Lower For Fifth Straight Session

(RTTNews) - While selling pressure remained relatively subdued, stocks moved modestly lower over the course of the trading day on Wednesday. The markets experienced another choppy session but still extended the downward trend seen over the past week.

Most of the major sectors ended the day showing only modest moves, contributing to the relatively lackluster performance by the broader markets.

Trucking stocks saw considerable weakness, however, with the Dow Jones Trucking Index falling by 1.3 percent. The index continued to give back ground after reaching its best closing level in well over a month last Friday.

Quality Distribution (QLTY), J.B. Hunt (JBHT), and Old Dominion (ODFL) turned in some of the trucking sector's worst performances.

Railroad, retail, and utilities stocks also saw some weakness on the day, although selling pressure was relatively subdued.

Meanwhile, gold stocks showed a substantial move to the upside amid a notable increase by the price of the precious metal. With gold for December delivery climbing $19.90 to $1,336.20 an ounce, the NYSE Arca Gold Bugs Index surged up by 2 percent.

Computer hardware, networking, and banking stocks also turned in strong performances, helping to limit the downside for the markets.

The major averages all ended the day in the red, with the Dow and the S&P 500 closing lower for the fifth straight day. The Dow fell 61.33 points or 0.4 percent to 15,273.26, the Nasdaq edged down 7.16 points or 0.2 percent to 3,761.10 and the S&P 500 dipped 4.65 points or 0.3 percent to 1,692.77.