Bargain hunters lifted the markets modestly higher during the midday with the Dow rising 8 points to 16,502. Nasdaq gained 16 points to 4368.
On the upside
Trex (NYSE: TREX) reported higher second quarter earnings that topped analyst estimates and forecast current quarter revenue ahead of expectations.
Shares of Groupon (Nasdaq: GRPN) climbed ahead of its earnings release tomorrow after market close.
Hutchinson Technology (Nasdaq: HTCH) extended its gains.
On the downside
Caesers Entertainment (Nasdaq: CZR) engaged in negotiations to restructure its debt.
Barclays downgraded Emulex (NYSE: ELX) from an Equal Weight rating to an underweight rating.
A drop in gold price weighed down shares of IAMGOLD (NYSE: IAG).
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 1929. Bitcoin added $3 to $587.
