Dow Closes Lower For Sixth Straight Day, Sets Six-Month Closing Low

(RTTNews) - With traders expressing caution ahead of tomorrow's monthly jobs report, stocks moved mostly lower during trading on Thursday. The Dow closed lower for the sixth consecutive session, falling to a six-month closing low.

Biotechnology stocks moved sharply lower over the course of the trading session, dragging the NYSE Arca Biotechnology Index down by 4.2 percent. With the drop, the index fell to its lowest closing level in almost a month.

Agios Pharmaceuticals (AGIO) helped to lead the biotech sector lower, plunging by 10.6 percent after reporting a wider than expected second quarter loss.

Considerable weakness also emerged among tobacco stocks, as reflected by the 2.3 percent loss posted by the NYSE Arca Tobacco Index. Alliance One (AOI) posted a particularly steep loss on the day.

Semiconductor stocks also came under significant selling pressure, resulting in a 1.8 percent drop by the Philadelphia Semiconductor Index. The index ended the session at a nine-month closing low.

Healthcare, software, and retail stocks also saw notable weakness on the day, while gold, energy and steel stocks bucked the downtrend.

The major averages ended the day firmly in negative territory but off their lows for the session. The Dow slid 120.72 points or 0.7 percent to 17,419.75, the Nasdaq tumbled 83.50 points or 1.6 percent to 5,056.44 and the S&P 500 fell 16.28 points or 0.8 percent to 2,083.56.