While most of the major sectors ended the day showing only modest moves, substantial strength was visible among gold stocks. The NYSE Arca Gold Bugs Index surged up by 5.2%, reaching its best closing level in three months.
The rally by gold stocks came amid a sharp increase by the price of the precious metal, with gold for August delivery jumping
Utilities, tobacco, and commercial real estate stocks also saw some strength on the day, although buying interest was relatively subdued.
Meanwhile, networking and computer hardware stocks moved to the downside on the day, contributing to a modest loss by the tech-heavy Nasdaq.
The major averages eventually ended the day mixed, although they were all nearly flat. While the Nasdaq edged down 3.51 points or 0.1% to 4,359.33, the Dow crept up 14.84 points or 0.1% to 16,921.46 and the S&P 500 inched up 2.50 points or 0.1% at 1,959.48.
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