Weak economic data raised expectations that the Federal Reserve would slow the pace of rate hikes. The markets closed higher with the Dow climbing 84 points to 21,637. Nasdaq gained 38 points to 6,312.
On the upside
BTIG Research initiated coverage of Eiger BioPharmaceuticals (Nasdaq: EIGR) with a Buy rating and a $32.00 price target.
Shares of Akcea Therapeutics (Nasdaq: AKCA) climbed on its first trading day.
Jefferies analyst Matthew Andrews initiated coverage of AcelRx Pharmaceuticals (Nasdaq: ACRX) with a Buy rating and a $7.00 price target.
On the downside
RH (NYSE: RH) completed its $700 million stock repurchase program.
Shiloh Industries (Nasdaq: SHLO) priced its public offering of 5.0 million common shares at the discounted price of $8.25 per share.
Investors locked in profits on Teva Pharmaceuticals (Nasdaq: TEVA).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 climbed 11 points to 2,458. Bitcoin plummeted $166 to $2149.
