Mixed Close Over Fed Tapering

The markets closed mixed with the Dow slipping 7 points to 15,002 in response to Federal Reserve minutes indicating that tapering may begin sooner than expected. Nasdaq gained 24 points to 3613.

On the upside

Shares of NetEase (Nasdaq: NTES) continued rising after announcing a joint venture with Chinese Telecom to offer YiChat social instant messaging.

T.J. Maxx and Marshalls parent TJX (NYSE: TJX) reported higher second quarter earnings that topped analyst estimates.

NF Energy (Nasdaq: NFEC) will retrofit 58 of Dongguan Xianjia Plastic Products' injecting molding machines with energy efficient improvements.

On the downside

Perfect World (Nasdaq: PWRD) disappointed with sharply lower second quarter earnings.

Second quarter earnings plunged for China Techfaith Wireless Communication Technology (Nasdaq: CNTF).

Second quarter earnings climbed for Aegean Marine Petroleum Network (NYSE: ANW) but the results fell short of analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 6 points to 1652.

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