Nasdaq Climbs Firmly Into Positive Territory, Dow Nearly Flat

(RTTNews) - Stocks have fluctuated over the course of the trading day on Thursday following the release of a mixed batch of economic data. While the Nasdaq has shown a notable upward move, the Dow and the S&P 500 have been bouncing back and forth across the unchanged line.

Contributing to the strong upward move by the tech-heavy Nasdaq, internet stocks are seeing significant strength in mid-day trading. The Dow Jones Internet Composite Index has surged up by 2.2 percent, climbing further off the six-month closing low that it set on Monday.

Within the internet sector, Yelp (YELP) is posting a standout gain after the online local guide operator reported a narrower than expected first quarter loss and raised its full-year revenue guidance.

Airline stocks have also shown a strong move to the upside on the day, driving the NYSE Arca Airline Index up by 2.1 percent. Republic Airways (RJET) has helped to lead the sector higher, jumping by 9 percent after reporting strong first quarter earnings growth.

Considerable strength has also emerged among housing stocks, as reflected by the 1.3 percent gain being posted by the Philadelphia Housing Sector Index.

Biotechnology, telecom, and defense stocks are also seeing some strength on the day, while weakness is visible among gold and railroad stocks.

After ending the previous session at a record closing high, the Dow is currently nearly flat on the day, up just 1.54 points or less than a tenth of a percent at 16,582.38. The S&P 500 is up 2.25 points or 0.1 percent at 1,886.20, while the Nasdaq is up 28.34 points or 0.7 percent at 4,142.9.