Renewed hope that lawmakers would resolve the debt ceiling crisis lifted the markets to a higher close with the Dow gaining 64 points to 15,301. Nasdaq climbed 23 points to 3815.
On the upside
A Seeking Alpha contributor suggested that Acadia Pharmaceuticals’ (Nasdaq: ACAD) pimavanserin had the potential to become a blockbuster drug.
Investor’s Business Daily listed NQ Mobile (NYSE: NQ) as a top five stock for profit growth.
A report that September iron ore imports in China climbed 4.6% to record levels lifted shares of Vale (NYSE: VALE).
On the downside
Suntech Power (NYSE: STP) reported that additional solar fields in Brindisi, Italy have been seized.
Shares of Ethan Allen (NYSE: ETH) continued falling as investors locked in profits.
Acorda Therapeutics (NYSE: ACOR) reported positive results from a Phase 2 proof-of-concept study of its post stroke deficit extended release drug dalfampridine but the stock price dropped.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 gained 6 points to 1710.
