Assurances by Federal Reserve chairman Ben Bernanke that tapering of economic stimulus measures would not begin until the end of the year lifted the markets to a higher open with the Dow rising 13 points to 15,465. Nasdaq gained 9 points to 3608.
On the upside
Yahoo (Nasdaq: YHOO) reported higher second quarter earnings that topped analyst estimates on strength from its stake in Alibaba.
Shares of NRG Yield (NYSE: NTLD) surged on its first trading day.
Bargain hunters snapped up shares of Tesla Motors (Nasdaq: TSLA).
On the downside
Zagg (Nasdaq: ZAGG) slashed its revenue guidance for the second quarter and full year.
Verastem (Nasdaq: VSTM) priced its public offering of 3.7 million common shares at the discounted price of $15.00 per share.
Mattel (Nasdaq: MAT) disappointed with lower second quarter earnings as Barbie sales continued to drop.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index rose 3 points to 1680.
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