Networking stocks showed a substantial move to the upside on the day, driving the NYSE Arca Networking Index up by 2.9%. The index rebounded after closing lower for four consecutive sessions, reaching a two-month closing high.
Significant strength was also visible among gold stocks, as reflected by the 1.9% gain posted by the Philadelphia Gold/Silver Sector Index. The strength in the sector came as gold for August delivery climbed
Railroad stocks also saw considerable strength on the day, resulting in a 1.5% gain by the Dow Jones Railroads Index. With the gain, the index reached a new record closing high.
Commercial real estate, software, defense, and internet stocks also posted strong gains, moving higher along with most of the other major sectors.
The major averages remained firmly positive throughout the afternoon, closing near their best levels of the day. The Dow climbed 98.58 points or 0.6% to 16,836.11, the Nasdaq jumped 44.58 points or 1.1% to 4,296.23 and the S&P 500 advanced 12.58 points or 0.7% to 1,940.46.
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