The markets traded higher during the midday with the Dow rising 36 points to 17,711 ahead of the Federal Reserve's interest rate decision today. Nasdaq gained 15 points to 4,859.
On the upside
J.C. Penney (NYSE: JCP) chief executive Marvin Ellison said that Memorial Day weekend sales rebounded.
Bargain hunters lifted shares of Infinity Pharmaceuticals (Nasdaq: INFI).
Bank of America/Merrill Lynch upgraded U. S. Steel (NYSE: X) from an Underperform rating to a Neutral rating.
On the downside
Profit taking weighed down shares of Five9 (Nasdaq: FIVN).
Bob Evans Farms (Nasdaq: BOBE) reported sharply lower fourth quarter earnings and forecast 2017 earnings below analyst estimates.
The Food and Drug Administration issued a warning letter to Whole Foods (Nasdaq: WFM) for serious violations at a food preparation facility in Massachusetts.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 gained 5 points to 2,081. Bitcoin edged up $1 to $681.
