Nasdaq Closes Higher For Seventh Straight Session

(RTTNews) - After experiencing choppy trading throughout much of the two previous sessions, stocks turned in another lackluster performance during trading on Thursday. The major averages eventually ended the session mixed, although the tech-heavy Nasdaq closed higher for the seventh consecutive session.

Reflecting the relatively lackluster performance turned in by the broader markets, most of the major sectors ended the day showing only modest moves.

Gold stocks saw substantial weakness, however, with the NYSE Arca Gold Bugs Index tumbling by 2.4 percent. With the drop, the index ended the session at its lowest closing level in a month.

The weakness among gold stocks came despite an increase by the price of the precious metal, as gold for April delivery climbed $7.40 to $1,207.60 an ounce.

Considerable weakness was also visible among commercial real estate stocks, as reflected by the 2.2 percent loss posted by the Morgan Stanley REIT Index. LaSalle Hotel Properties (LHO) posted a notable loss after reporting slightly weaker than expected fourth quarter earnings.

While utilities stocks also showed a notable move to the downside, internet stocks turned in a strong performance on the day. The Dow Jones Internet Index surged up by 1.6 percent to its best closing level in over fourteen years.

Priceline (PCLN) helped to lead the internet sector higher, jumping 8.5 percent after reporting better than expected fourth quarter results and announcing a $3 billion share buyback program.

While the Nasdaq rose 18.34 points or 0.4 percent to a nearly fifteen-year closing high of 4,924.70, the Dow slipped 44.08 points or 0.2 percent to 17,985.77 and the S&P 500 edged down 2.23 points or 0.1 percent to 2,097.45.