Major Averages Close At Their Best Levels Of The Day

(RTTNews) - Stocks moved mostly higher over the course of the trading day on Thursday, more than offsetting the modest weakness seen in the previous session. With the gains on the day, the S&P 500 reached another new record closing high.

While a majority of the major sectors moved higher on the day, most finished the session showing relatively modest moves.

Tobacco stocks saw considerable strength, however, with the NYSE Arca Tobacco Index advancing by 1.6 percent. Vector Group (VGR) and Lorillard (LO) turned in two of the sector's best performances.

Notable strength was also visible among oil service stocks, as reflected by the 1.3 percent gain posted by the Philadelphia Oil Service Index. The strength in the sector came as crude for July delivery climbed $0.86 to $103.58 a barrel.

Chemical, software, and internet stocks also saw some strength on the day, while electronic storage stocks moved to the downside.

The major averages saw further upside going into the close, ending the session at their best levels of the day. The Dow rose 65.56 points or 0.4 percent to 16,698.74, the Nasdaq climbed 22.87 points or 0.5 percent to 4,247.95 and the S&P 500 advanced 10.25 points or 0.5 percent to 1,920.03.