Modestly Higher Close As Oil Rises

Rising oil prices tempered a better than expected jobless claims report to lift the markets to a modestly higher close with the Dow rising 31 points to 8770. Nasdaq gained 9 points to 1862.

On the upside

American Capital (Nasdaq: ACAS) declared a quarterly dividend of $1.07 per share payable on August 7, 2009 to shareholders of record June 22, 2009.

First Commercial Bank of Florida extended and expanded its agreement with Level 3 Communications (Nasdaq: LVLT) to provide Internet connectivity, data storage services and to connect all ten locations of the bank through a virtual private network.

Chindex International (Nasdaq: CHDX) reversed year ago losses to post a profit for the fourth quarter as revenue surged.

On the downside

Barnes Group (NYSE: B) withdrew its outlook for the year citing the uncertain economy prompting a downgrade.

Symantec (Nasdaq: SYMC) warned that profit margins will be pressured this year.

Ford (NYSE: F) will meet with the Canadian Auto Workers to negotiate new labor agreements.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 526.

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