10.04.2015 22:21:28

Major Averages Close Firmly In Positive Territory

(RTTNews) - Despite a lack of significant catalysts, stocks moved mostly higher over the course of the trading day on Friday. With the upward move on the day, the major averages added to the gains posted in the two previous sessions.

After moving notably lower over the past few sessions, gold stocks showed a substantial move back to the upside on the day. Reflecting the strength in the sector, the NYSE Arca Gold Bugs Index surged up by 2.9 percent.

The strength among gold stocks came amid an increase by the price of the precious metal, with gold for June delivery climbing $11 to $1,204.60 an ounce.

Significant strength also emerged among biotechnology stocks, as reflected by the 1.3 percent gain posted by the NYSE Arca Biotechnology Index. Alexion (ALXN), Vertex (VRTX), and Immunogen (IMGN) posted standout gains.

Trucking, electronic storage, pharmaceutical, and railroad stocks also saw notable strength on the day, moving higher along with most of the other major sectors.

The major averages ended the day firmly in positive territory, just off their highs for the session. The Dow advanced 98.92 points or 0.6 percent to 18,057.65, the Nasdaq rose 21.41 points or 0.4 percent to 4,995.98 and the S&P 500 climbed 10.88 points or 0.5 percent to 2,102.06.

For the week, the major averages all posted notable gains. The Nasdaq surged up by 2.2 percent, while the Dow and the S&P 500 both jumped by 1.7 percent.

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