Author: Elena Todorova
123jump.com
Last Update: 12:31 PM EDT June 08 2007

U.S. stock market averages moved modestly higher, as investors turned to bargain hunting after recent weakness, with concerns about the outlook for interest rates still weighing. Some positive sentiment was generated by a notable decline by the price of oil. Shares of Royal Dutch Shell traded in the U.S. were among the leading gainers in the oil group, rising 1%. At the same time, gold stocks posted weakness amid a continuous drop by the price of gold.