Major Averages End Choppy Trading Day On Opposite Sides Of Unchanged

(RTTNews) - Extending the lackluster performance seen over the past few sessions, treasuries showed a lack of direction for much of the trading day on Monday. The major averages eventually ended the day mixed, although the S&P 500 still reached a new record closing high.

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

Gold stocks showed a strong move to the upside, however, with the NYSE Arca Gold Bugs Index surging up by 1.9 percent. The strength in the gold sector came despite a modest decrease by the price of the precious metal.

Within the gold sector, Allied Nevada Gold (ANV) and Tanzanian Royalty Exploration Corp. (TRX) posted standout gains, jumping by 21.9 percent and 14.4 percent, respectively.

Considerable strength was also visible among utilities stocks, as reflected by the 1.3 percent gain posted by the Dow Jones Utilities Average. The gain by the average came after it closed lower for four consecutive sessions.

On the other hand, internet stocks came under pressure on the day, contributing to a pullback by the tech-heavy Nasdaq. The Dow Jones Internet Index fell by 1.1 percent after ending the previous session at a two-month closing high.

Brokerage, airline, and trucking stocks also moved to the downside, partly offsetting the strength seen in the aforementioned sectors.

After moving lower in early trading, the Nasdaq remained stuck in the red throughout the session before closing down 17.54 points or 0.4 percent at 4,671.00.

On the other hand, the Dow inched up 13.01 points or 0.1 percent to 17,647.75 and the S&P 500 ticked up 1.50 points or 0.1 percent to 2,041.32.