Nasdaq Closes Higher But Dow And S&P 500 Post Modest Losses

(RTTNews) - After ending the previous session roughly flat, stocks turned in another lackluster performance during trading on Thursday. The major averages fluctuated over the course of the trading day before ending the session mixed.

While many of the major sectors ended the day showing only modest moves, substantial weakness was visible among energy stocks. The weakness in the sector came as crude for April delivery plunged $2.82 to $48.17 a barrel amid concerns about supply glut.

Reflecting the weakness in the energy sector, the Philadelphia Oil Service Index slumped by 1.8 percent and the NYSE Arca Natural Gas Index plummeted by 3.8 percent.

The natural gas index pulled back well off the nearly three-month closing high set on Wednesday, with the substantial weakness coming as natural gas for April delivery fell $0.165 to $2.697 per million BTUs.

Railroad and steel stocks also came under pressure on the day, while strength among internet and semiconductor stocks contributed to the gain posted by the tech-heavy Nasdaq.

The Nasdaq climbed 20.75 points or 0.4 percent to 4,987.89, moving within striking distance of its record highs, while the Dow edged down 10.15 points or 0.1 percent to 18,214.42 and the S&P 500 dipped 3.12 points or 0.2 percent to 2,110.74.