Major Averages Close In Positive Territory, Dow Outperforms

(RTTNews) - Stocks moved mostly higher over the course of the trading day on Monday, regaining some ground following the pullback seen last week. The major averages all moved to the upside but remain well off last Monday's highs.

Despite the strength shown by the broader markets, most of the major sectors ended the day showing only modest moves.

Telecom stocks turned in a strong performance, however, with the NYSE Arca Telecom Index advancing by 1.1 percent. Sprint (S) helped to lead the sector higher, climbing by 2.1 percent.

Software, networking, and commercial real estate stocks also saw some strength on the day, regaining ground after seeing notable weakness last Friday.

On the other hand, gold stocks moved sharply lower on the day, dragging the NYSE Arca Gold Bugs Index down by 3.8 percent to a two-month closing low. The weakness in the sector came despite an increase by the price of gold.

Natural gas and oil service stocks also came under pressure on the day, helping to limit the upside shown by the broader markets.

While the major averages all closed in positive territory, the Dow outperformed its counterparts. The Dow advanced 138.94 points or 0.8 percent to 17,995.72, the Nasdaq rose 15.07 points or 0.3 percent to 4,942.44 and the S&P 500 climbed 8.17 points or 0.4 percent to 2,079.43.