The rate for a fixed 30-year mortgage dropped to a record low to lift the markets to a higher open with the Dow rising 52 points to 10,992. Nasdaq gained 26 points to 2486.
On the upside
OCZ Technology Group (Nasdaq: OCZ) reversed year ago losses to post a profit for the second quarter as revenue more than doubled.
Macau gambling revenue surged 39% in September to lift shares of Melco Crown Entertainment (Nasdaq: MPEL).
Ivanhoe Mines (NYSE: IVN), Rio Tinto and Mongolia reaffirmed their investment agreement.
On the downside
Dahlman Rose downgraded Frontline (NYSE: FRO) to a Sell rating.
TJX (NYSE: TJX) reported a gain in September same store sales but the retailer forecast third quarter earnings below estimates.
Wet Seal (Nasdaq: WTSLA) disappointed with a 0.3% drop in September same store sales.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 659.
