News Column

Major Averages Holding On To Modest Gains In Mid-Day Trading

June 25, 2014

WASHINGTON (Alliance News) - After initially showing a lack of direction, stocks have moved modestly higher over the course of the trading day on Wednesday. Buying interest has remained somewhat subdued, however, limiting the upside for the markets.

Despite the modest strength being shown by the broader markets, most of the major sectors are showing only modest moves in mid-day trading,

Gold stocks are seeing some strength on the day, however, with the NYSE Arca Gold Bugs Index up by 1%. The index is regaining some ground after plunging by 3% on Tuesday.

The rebound by gold stocks comes amid a modest increase by the price of the precious metal, with gold for August delivery rising USD3.40 to USD1,324.70 an ounce.

Natural gas, chemical, and healthcare stocks are also seeing some strength on the day, while oil stocks are pulling back further off their recent highs.

The major averages have pulled back off their highs for the session but are currently holding on to modest gains. The Dow is up 23.60 points or 0.1% at 16,841.73, the Nasdaq is up 9.66 points or 0.2% at 4,360.01 and the S&P 500 is up 4.11 points or 0.2% at 1,954.09.

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Source: Alliance News

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