Major Averages End Lackluster Trading Session Mixed

(RTTNews) - Following the rally seen late in the previous session, stocks turned in a relatively lackluster performance during trading on Thursday. The major averages eventually ended the session mixed, as the tech-heavy Nasdaq clung to a modest gain for much of the day.

Reflecting the lack of direction shown by the broader markets, many of the major sectors ended the day showing only modest moves.

Steel stocks saw substantial weakness, however, with the NYSE Arca Steel Index plunging by 3.5 percent. With the drop, the index pulled back toward the nearly six-year closing low set on Monday.

U.S. Steel (X), Nucor (NUE), and Cliffs Natural Resources (CLF) turned in some of the steel sector's worst performances on the day.

Significant weakness was also visible among energy stocks, which moved lower along with the price of crude oil. Crude for April delivery fell $0.70 to $43.96 a barrel.

Chemical, electronic storage, and banking stocks also saw notable weakness, while significant strength emerged among biotechnology stocks.

Reflecting the strength in the biotech sector, the NYSE Arca Biotechnology Index surged up by 1.7 percent to a new record closing high.

While the Nasdaq edged up 9.55 points or 0.2 percent to 4,992.38, the Dow and the S&P 500 both closed in the red. The Dow slid 117.16 points or 0.7 percent to 17,959.03, and the S&P 500 fell 10.23 points or 0.5 percent to 2,089.27.