Higher Open As Investors Monitor Fed

The markets opened higher with the Dow adding 11 points to 15,092 as investors continued to monitor the Federal Reserve for signs of tapering. Nasdaq rose 18 points to 3621.

On the upside

The Food and Drug Administration granted final approval to Supernus Pharmaceuticals' (Nasdaq: SUPN) epilepsy treatment Trokendi XR.

eFuture Information Technology (Nasdaq: EFUT) engaged Rainbow Department Store to launch its myStore social shopping network platform.

The French National Health Authority granted market access to Cell Therapeutics' (NYSE: CTIC) non-Hodgkin Lymphoma treatment PIXUVRI.

On the downside

GTx (Nasdaq: GTXI) reported that its enobosarm to treat muscle wasting in lung cancer patients failed two clinical trials.

Cobalt International Energy (NYSE: CIE) found no oil at the Ardennes 1 deepwater well in the Gulf of Mexico.

Stifel Nicolaus downgraded Halcon Resources (NYSE: HK) from a Buy rating to a Hold rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 added a point to 1657.

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