The Federal Reserve pledged to maintain current low interest rates until at least mid-2013 sparking a rally to send the markets roaring back from yesterday steep sell-off with the Dow rocketing 429 points to 11,239. Nasdaq leaped 124 points to 2482.

On the upside

Boise (NYSE: BZ) announced that Indianapolis, Indiana will be the site of the company's first Project UP urban park re-development project.

Syntroleum (Nasdaq: SYNM) widened second quarter losses but the renewable and synthetic fuels company record production in July.

UTStarcom Holdings (Nasdaq: UTSI) reversed year ago losses to post a profit for the second quarter as revenue climbed.

On the downside

Sykes Enterprises (Nasdaq: SYKE) reported higher second quarter earnings but the results missed estimates.

Alliance HealthCare Services (NYSE: AIQ) disappointed with a loss for the second quarter.

EnerNOC (Nasdaq: ENOC) swung to a loss for the second quarter and lowered its 2011 and 2012 guidance prompting downgrades.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 45 points to 696.