A pledge by Federal Reserve chairman Ben Bernanke to lower interest rates boosted the markets higher during the midday with the Dow climbing 58 points to 12,793. Nasdaq added 7 points to 2481.
On the upside
Retreating oil prices and an upgrade by UBS lifted shares of Northwest Airlines (NYSE: NWA).
NCR (NYSE: NCR) raised its 2007 profit guidance due to strong demand.
On the downsideElectronics for Imaging (Nasdaq: EFII) warned that fourth quarter results will fall short of expectations due to soft demand prompting downgrades.
AmTech Research downgraded Synaptics (Nasdaq: SYNA).
Ikon Office Solutions (NYSE: IKN) blamed weaker than expected sales for lowering its first quarter guidance.
In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 718.