Dow And S&P 500 Set New Record Closing Highs Despite Choppy Trading

(RTTNews) - After moving sharply higher over the course of the previous session, stocks showed a lack of direction throughout the trading day on Tuesday. Despite the lackluster performance, the Dow and the S&P 500 still ended the session at new record closing highs.

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

Tobacco stocks came under considerable selling pressure, however, with the NYSE Arca Tobacco Index falling by 1.9 percent. The pullback by the index came after it ended the previous session at a two-month closing high.

Cigarette maker Vector Group (VGR) helped lead the tobacco sector lower, falling by 5.8 percent despite reporting a first quarter profit compared to a year-ago loss.

Biotechnology, brokerage, and semiconductor stocks also moved to the downside on the day, while strength was visible among electronic storage and railroad stocks.

The major averages turned in a mixed performance on the day. While the tech-heavy Nasdaq dipped 13.69 points or 0.3 percent to 4,130.17, the Dow edged up 19.97 point or 0.1 percent to 16,715.44 and the S&P 500 crept up 0.80 point or less than a tenth of a percent to 1,897.45.