Major Averages Close On Opposite Sides Of Unchanged Line

(RTTNews) - Stocks saw modest weakness for much of the trading day on Thursday before recovering late in the session and closing nearly flat. The lackluster close extended the roughly sideways trend shown by the markets over the past several sessions.

The modest weakness seen for most of the day came following the release of a report from the Labor Department showing an unexpected increase in initial jobless claims in the week ended September 6th.

Geopolitical concerns also weighed on the markets after President Barack Obama confirmed that the U.S. will expand its military campaign against the terrorist group known as the Islamic State.

Nonetheless, traders seemed reluctant to make any significant moves ahead of the release of some key economic data on Friday, including the closely watched retail sales report.

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

While strength emerged among steel, brokerage, and utilities stocks, notable weakness remained visible in the biotechnology sector.

The major average ended the day on opposite sides of the unchanged line. While the Dow edged down 19.71 points or 0.1 percent to 17,049.00, the Nasdaq crept up 5.28 points or 0.1 percent to 4,591.81 and the S&P 500 inched up 1.76 points or 0.1 percent to 1,997.45.