Major Averages Close Firmly In Positive Territory

(RTTNews) - Stocks fluctuated over the course of the trading session on Monday but largely maintained a positive bias and managed to end the day higher. The gains on the day partly offset the steep losses posted in the two previous sessions.

Gold stocks showed a strong move to the upside on the day, driving the NYSE Arca Gold Bugs Index up by 2.4 percent. With the gain, the index climbed further off the nearly one-month closing low set last Thursday.

The strength among gold stocks came amid an increase by the price of the precious metal, as gold for February delivery climbed $15.60 to $1,080.60 an ounce.

Considerable strength was also visible among airline stocks, as reflected by the 2.1 percent gain posted by the NYSE Arca Airline Index. China Southern Airlines (ZNH) helped lead the sector higher, jumping by 8.8 percent.

Telecom stocks also saw significant strength on the day, resulting in a 2.2 percent gain by the NYSE Arca Telecom Index.

Semiconductor, biotechnology, and electronic storage also turned in strong performances, moving higher along with most of the other major sectors.

The major averages spiked higher going into the close, ending the session firmly in positive territory. The Dow climbed 123.07 points or 0.7 percent to 17,251.62, the Nasdaq advanced 45.84 points or 0.9 percent to 4,968.92 and the S&P 500 rose 15.60 points or 0.8 percent to 2,021.15.