Major Averages Close Mixed Following Lackluster Session

(RTTNews) - Following the Federal Reserve-inspired rally seen in the latter part of the previous session, stocks turned in a relatively lackluster performance throughout the trading day on Thursday.

While many of the major sectors ended the day showing only modest moves, substantial weakness was visible among gold stocks.

Reflecting the weakness in the gold sector, the NYSE Arca Gold Bugs Index tumbled by 3.2 percent after surging up by 9.6 percent on Wednesday. Traders cashed in on yesterday's gains, which came as the price of gold spiked higher after the Fed announcement.

Health insurance stocks also saw notable weakness after being among the few groups to buck the uptrend in the previous session. The Morgan Stanley Healthcare Payor Index fell by 2.9 percent, pulling back further off Monday's record closing high.

Housing, banking, and steel stocks also moved to the downside on the day, while modest strength was visible among airline and railroad stocks.

The major averages eventually ended the day mixed, as the tech-heavy Nasdaq extended yesterday's upward move but the Dow and the S&P 500 gave back some ground.

While the Nasdaq edged up 5.74 points or 0.2 percent to 3,789.38, the Dow dipped 40.39 points or 0.3 percent to 15,636.55 and the S&P 500 slipped 3.18 points or 0.2 percent to 1,722.34.