Major Averages Fluctuate Before Closing In Positive Territory

(RTTNews) - While buying interest was somewhat subdued, stocks ended Friday's trading mostly higher. The gains on the day partly offset the pullback that was seen over the course of the two previous sessions.

With upbeat manufacturing data generating optimism about the outlook for demand, steel stocks showed a strong move to the upside on the day. Reflecting the strength in the sector, the NYSE Arca Steel Index advanced by 1.5 percent.

Cliffs Natural Resources (CLF) and AK Steel (AKS) turned in two of the steel sector's best performances, jumping 6.5 percent and 4.6 percent, respectively.

Transportation, brokerage, and utilities stocks also saw some strength on the day, while most of the other major sectors ended the day showing only modest moves.

On the other hand, gold stocks saw substantial weakness, moving lower along with the price of the precious metal. With gold for December delivery falling $10.50 to $1,313.20 an ounce, the NYSE Arca Gold Bugs Index tumbled by 4 percent.

The major averages fluctuated as the day progressed before closing in positive territory. The Dow advanced 69.80 points or 0.5 percent to 15,615.55, the Nasdaq edged up 2.34 points or 0.1 percent to 3,922.04 and the S&P 500 climbed 5.10 points or 0.3 percent to 1,761.64.

For the week, the major averages turned in a mixed performance. The Nasdaq fell by 0.5 percent, while the Dow rose by 0.3 percent and the S&P 500 crept up by 0.1 percent.