U.S. Stocks Pause, Gold Tumbles
Midnight Trader | May 16, 2013 04:06PM ET
Stocks turned moderately negative late Thursday, with investors moving to lock in recent gains following a long string of record closes for the S&P 500 and the Dow Jones Industrials Index. The late selloff hit nearly all sectors in the S&P 500, with technology shares the lone sector to finish with gains, largely carried by a big surge for Cisco Systems after the networking giant reported better-than-expected fiscal Q3 results.
Commodities were mixed, with natural gas futures falling 3.5% after the government's weekly inventory report showed an unusually large increase. Gold, meanwhile, continued its slide, declining for a sixth consecutive session.
Earnings
The Dow see-sawed between gains and losses through much of the session, pulled in opposite directions by Cisco (Midnight Trader .
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