The US markets ended mostly higher on Thursday as some traders looked to pick up stocks at somewhat reduced levels after the drop seen on Tuesday and Wednesday dragged the major averages down well off Monday's record closing highs. However, overall trading activity remained somewhat subdued, as some traders stuck to the sidelines amid the Veterans Day holiday. Lingering concerns about inflation also limited buying interest after Wednesday's Labor Department report showing consumer prices rose at their fastest annual rate in over thirty years in October.
On the sectoral front, steel stocks showed a substantial move back to the upside on the day, with the NSYE Arca Steel Index surging up by 3.8 percent after ending the previous session at its lowest closing level in over seven months. Significant strength was also visible among gold stocks, as reflected by the 2.6 percent jump by the NYSE Arca Gold Bugs Index. The index ended the session at a nearly five-month closing high. Semiconductor, natural gas and computer hardware also regained ground after coming under pressure during trading on Wednesday.
Nasdaq rose 81.58 points or 0.52 percent to 15,704.28 and S&P 500 was up by 2.56 points or 0.06 percent to 4,649.27, while Dow Jones Industrial Average fell 158.71 points or 0.44 percent to 35,921.23.