Major Averages Close Higher, Nasdaq Outperforms

(RTTNews) - Stocks turned in another lackluster performance during trading on Thursday, extending the trend seen over the past few sessions. The major averages eventually ended the day on the upside.

While many of the major sectors ended the session show only modest moves, natural gas stocks showed a strong move to the upside on the day. Reflecting the strength in the sector, the NYSE Arca Natural Gas Index advanced by 1.9 percent.

Southwestern Energy (SWN) helped to lead the natural gas sector higher, surging up by 5.1 percent to a two-month closing high.

Considerable strength also emerged among internet stocks, as reflected by the 1.6 percent gain posted by the NYSE Arca Internet Index. Baidu (BIDU) posted a standout gain after reporting better than expected second quarter results.

Networking, tobacco, and gold stocks also saw notable strength on the day, with gold stocks moving higher along with the price of the precious metal.

Meanwhile, substantial weakness remained visible among housing stocks, resulting in a 2.5 percent drop by the Philadelphia Housing Sector Index. PulteGroup (PHM) helped lead the housing sector lower, with the homebuilder tumbling by 10.3 percent after reporting weaker than expected second quarter earnings.

While the major averages all closed in positive territory, the Nasdaq outperformed its counterparts. The Nasdaq advanced 25.59 points or 0.7 percent to 3,605.19, while the Dow edged up 13.37 points or 0.1 percent to 15,555.61 and the S&P 500 rose 4.31 points or 0.3 percent to 1,690.25.