Investors embraced comments made yesterday by Federal Reserve chair Janet Yellen that interest rates would remain low for a considerable time. The markets extended its gains during the midday with the Dow rocketing 299 points to 17,656. Nasdaq leaped 85 points to 4,730.
On the upside
RBC Capital Markets upgraded Key Energy Services (NYSE: KEG) from a Sector Perform rating to an Outperform rating.
Shares of Bellicum Pharmaceuticals (Nasdaq: BLCM) surged in its market debut.
The Internal Revenue Service dropped its challenge to the tax refunds that had been received by First Marblehead (NYSE: FMD).
On the downside
Comstock Resources (NYSE: CRK) suspended oil drilling activity in its Eagle Ford shale properties and postponed drilling activity in the Tuscaloosa Marine shale.
Retreating crude oil prices weighed down shares of Midstates Petroleum (NYSE: MPO) and Swift Energy (NYSE: SFY).
Second quarter earnings rose for Worthington Industries (NYSE: WOR) but the results fell short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 leaped 34 points to 2047. Bitcoin lost $6 to $315.
