Major Averages Close Higher But Well Off Best Levels

(RTTNews) - Stocks fluctuated throughout much of the trading day on Thursday but largely managed to maintain a positive bias. The gains on the day partly offset the pullback seen on Wednesday.

Despite the volatility shown by the broader markets, trucking stocks saw substantial strength throughout the trading day. Reflecting the strength in the sector, the Dow Jones Trucking Index surged up by 3.1 percent.

Con-Way (CNW) led the trucking sector higher, jumping by 33.8 percent after agreeing to be acquired by XPO Logistics (XPO) for $3 billion, including the assumption of debt.

Significant strength was also visible among biotechnology stocks, as reflected by the 1.5 percent advance by the NYSE Arca Biotechnology Index. Incyte (INCY) and Alnylam Pharmaceuticals (ALNY) posted standout gains.

Computer hardware, healthcare and internet stocks also saw some strength on the day, although most of the major sectors ended the day showing more modest moves.

The major averages ended the session in positive territory but well off their best levels of the day. The Dow rose 76.83 points or 0.5 percent to 16,330.40, the Nasdaq advanced 39.72 points or 0.8 percent to 4,796.25 and the S&P 500 climbed 10.25 points or 0.5 percent to 1,952.29.