Gain in consumer confidence lifts markets

Consumer spending eased 0.1% last month but consumer confidence climbed to its highest level in seven years. The markets closed modestly higher with the Dow rising 18 points to 17,098. Nasdaq gained 22 points to 4580.

On the upside

Ivanhoe Energy (Nasdaq: IVAN) responded to a surge in its stock price by saying that it was unaware of any contributing factors.

Bargain hunters snapped up shares of Ascent Solar Technologies (Nasdaq: ASTI).

Rally Software Development (NYSE: RALY) widened losses for the second quarter but the results were better than expected and the company forecast full year earnings ahead of estimates.

On the downside

Investors locked in profits on China Finance Online (Nasdaq: JRJC).

Pacific Sunwear (Nasdaq: PSUN) swung to a profit for the second quarter but the company forecast current quarter earnings that fell short of analyst expectations.

Profit taking weighed down shares of Jumei International (NYSE: JMEI).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 6 points to close at a record 2003. Bitcoin added $2 to $507.

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