Higher open as import prices fall

A decrease in import prices allayed concerns of an interest rate increase lifting the markets to a higher open with the Dow gaining 84 points to 18,150. Nasdaq climbed 41 points to 5,196.


On the upside


Vitae Pharmaceuticals (Nasdaq: VTAE) agreed to be acquired by Allergan (NYSE: AGN) for a premium of approximately $639 million in cash.


A critic of Sarepta Therapeutics' (Nasdaq: SRPT) eteplirsen who lead the clinical review team of the Duchenne muscular dystrophy drug for the Food and Drug Administration has left the agency raising expectations that the new drug application for eteplirsen may finally be approved.


Shares of Apple (Nasdaq: AAPL) continued rising on strong iPhone 7 preorders.


On the downside


Shares of SunPower (Nasdaq: SPWR) extended its losses.


Profit taking weighed down shares of Nymox (Nasdaq: NYMX).


Oasis Petroleum (NYSE: OAS) priced its upsized public offering of senior convertible notes.


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 broader S&P 500 gained 12 points to 2,139. Bitcoin held steady at $609.

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