Dow And S&P 500 Close Nearly Flat, Nasdaq Firmly Positive

(RTTNews) - After trending higher over the past two weeks, stocks turned in a lackluster performance during trading on Wednesday. Lingering uncertainty about the outlook for the Federal Reserve's stimulus program contributed to the choppy trading on Wall Street.

Most of the major sectors ended the day showing only modest moves, contributing to the lack of direction shown by the broader markets.

Biotechnology stocks saw considerable strength, however, with the NYSE Arca Biotechnology Index advancing by 1.3 percent to a record closing high. Alexion (ALXN) and Amgen (AMGN) turned in two of the sector's best performances.

Significant strength was also visible among semiconductor stocks, as reflected by the 1.1 percent gain posted by the Philadelphia Semiconductor Index.

The strength among biotech and semiconductor stocks likely contributed to the notably higher close by the tech-heavy Nasdaq.

Meanwhile, railroad stocks came under pressure on the day, dragging the Dow Jones Railroads Index down by 1.1 percent. Greenbrier (GBX) helped lead the sector lower, falling by 3.9 percent.

Banking stocks also gave back some ground following recent strength, with the KBW Bank Index dipping by 1 percent after ending the previous session at its best closing level in nearly five years.

The Dow and the S&P 500 finished the day nearly unchanged. While the Dow edged down 8.68 points or 0.1 percent to 15,291.66, the S&P 500 inched up 0.30 points or less than a tenth of a percent to 1,652.62.

Meanwhile, the tech-heavy Nasdaq closed firmly in positive territory, climbing 16.50 points or 0.5 percent to 3,520.76. With the gain, the index extended its recent upward move and reached its best closing level since October of 2000.