Markets Recover To Close Higher
The markets recovered in late afternoon trading to close higher with the Dow gaining 42 points to 13,207 even as China's export growth slowed. Nasdaq added 2 points to 3020.
On the upside
Analysts expect Groupon (Nasdaq: GRPN) to report upbeat second quarter results Monday after market close.
Gafisa (NYSE: GFA) swung to an unexpected profit for the second quarter.
Bally Technologies (NYSE: BYI) reported higher fourth quarter earnings that topped analyst estimates.
On the downside
The Wall Street Journal reported that ATP Oil (Nasdaq: ATPG) may file for bankruptcy protection soon. DG (Nasdaq: DGIT) disappointed with sharply lower second quarter earnings that fell short of expectations.
Profit taking sent shares of Delek (NYSE: DK) tumbling.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 801.
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