After moving sharply lower over the course of the previous session, networking stocks have shown a strong move back to the upside on the day. The NYSE Arca Networking Index has risen by 1.5% after tumbling by 2.1% on Wednesday.
Internet and brokerage stocks are also turning in strong performances on the day, although buying interest has remained somewhat subdued.
On the other hand, housing stocks have come under pressure on the heels of the disappointing new home sales data, dragging the Philadelphia Housing Sector Index down by 2.1%.
Gold, oil service, and biotech stocks are also seeing notable weakness, helping to limit the upside for the broader markets.
The major averages have moved roughly sideways in recent trading, hovering above the unchanged line. The Dow is up 11.98 points or 0.2% at 17,098.61, the Nasdaq is up 8.71 points or 0.2% at 4,482.41 and the S&P 500 is up 3.43 points or 0.2% at 1,990.44.
Hispanic #1 Breaking News for Entrepreneurs, Professionals and Small Business Owners - HispanicBusiness.com
SEPTEMBER 22, 2014
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