Major Averages Close On Opposite Sides Of The Unchanged Line

(RTTNews) - With a mixed batch of economic data leading to some uncertainty about the outlook for the Federal Reserve's stimulus program, stocks showed a lack of direction throughout the trading day on Wednesday before closing roughly flat.

While most of the major sectors ended the day showing only modest moves, considerable strength was visible among gold stocks. The NYSE Arca Gold Bugs Index surged up by 2.2 percent, bouncing off a five-year closing low.

The rebound by gold stocks came amid a substantial increase by the price of the precious metal, with gold for February delivery jumping $26.40 to $1,247.20 an ounce.

Software, networking, and steel stocks also saw some strength on the day, while airline, defense, and retail stocks ended the day on the downside.

The major averages finished the day on opposite sides of the unchanged line. While the Nasdaq inched 0.80 points or less than a tenth of a percent to 4,038.00, the Dow dipped 24.85 points or 0.2 percent to 15,889.77 and the S&P 500 edged down 2.34 points or 0.1 percent to 1,792.81.