Federal Reserve Says Economy Stabilizing

A Federal Reserve survey indicating stabilization of the nation's economy lifted the markets to a higher close with the Dow rising 49 points to 9547. Nasdaq climbed 22 points to 2060.

On the upside

Delta Petroleum (Nasdaq: DPTR) received approval from the Klickitat County Board of Adjustment to drill four exploratory natural gas wells.

JDA Software (Nasdaq: JDAS) repurchased its preferred convertible stock for $30 million.

Rite Aid (NYSE: RAD) will report second quarter earnings on September 24.

On the downside

Shares of Blockbuster (NYSE: BBI) dropped after a report last week that YouTube may stream movie rentals.

Omega Navigation Enterprises (Nasdaq: ONAV) swung to a loss for the second quarter.

Credit Suisse analyst Deepak Sitaraman downgraded Palm (NYSE: PALM) saying that by selecting only one carrier for its Pixi phone will hurt sales.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 586.

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