Major Averages Finish Choppy Trading Day Modestly Lower

(RTTNews) - Stocks turned in a lackluster performance throughout the trading day on Thursday before ending the session modestly lower. A mixed batch of economic data contributed to the choppy trading.

While many of the major sectors ended the day showing only modest moves, considerable weakness was visible among brokerage stocks. The NYSE Arca Broker/Dealer Index fell by 1.2 percent to its lowest closing level in over a month.

Online brokers E*Trade (ETFC) and TD Ameritrade (AMTD) turned in two of the worst performances, falling by 3.1 percent and 2.7 percent, respectively.

Banking stocks also came under pressure on the day, dragging the Dow Jones Banks Index down by 1.1 percent. Citigroup (C) helped lead the sector lower, tumbling by 5.4 percent after failing the Federal Reserve's stress test.

Airline, chemical, and semiconductor stocks also moved to the downside on the day, while notable strength was visible among natural gas and telecom stocks.

The major averages all ended the day in the red, although the Dow dipped only 4.76 points or less than a tenth of a percent to 16,264.23. The Nasdaq fell 22.35 points or 0.5 percent to 4,151.23 and the S&P 500 edged down 3.52 points or 0.2 percent to 1,849.04.