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Prospect Of Low Interest Rates Lifts Markets

Speculation that Federal Reserve may maintain record low interest rates until 2017 lifted the markets to a higher close with the Dow gaining 54 points to 15,876. Nasdaq rose 7 points to 3972.

On the upside

YuMe (NYSE: YUME) reported a smaller than expected loss for the third quarter as revenue climbed.

Bargain hunters lifted shares of Mechel (NYSE: MTL).

China Recycling Energy (Nasdaq: CREG) reported higher third quarter earnings as revenue surged.

On the downside

Epizyme (Nasdaq: EPZM) reported positive interim results from an ongoing Phase 1 study of its acute leukemia treatment EPZ-5676 and announced plans to expand the study in MLL-r patients but the stock price plummeted.

Turquoise Hill (NYSE: TRQ) is unable to secure the financing for its Oyu Tolgoi project due to ongoing negotiations with the Government of Mongolia.

Investors locked in profits on USEC (NYSE: USU).

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 gained 8 points to 1790.

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