CLOSING UPDATE: Stocks Close Higher As House Speaker Boehner Calms Fears of Default; Investors Gobble Up PotBelly IPO

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Stocks eked out respectable gains today, buoyed by a well-received IPO from sandwich chain PotBelly ( PBPB ), a pledge by Congress not to allow a government debt default, and technical supports that prevented a breach of 14,500 in the Dow Industrials and the 50-day moving average of 1,680 for the S&P 500. Although the week ends with the government still shuttered, harsh criticism of the White House by House Speaker John Boehner gave the financial markets a shot in the arm this afternoon, renewing investor confidence that a deal to avert a default will be reached.

Here's where the markets stood at the close:

US MARKETS

Dow Jones Industrial Index was up 76.10 (+0.51%) to 15,072.58

S&P 500 was up 11.84 (+0.71%) to 1,690.50

Nasdaq Composite Index was up 33.41 (+0.89%) to 3,807.75

GLOBAL SENTIMENT

FTSE 100 was up 0.08%

Nikkei 225 was closed

Hang Seng Index was down 0.33%

Shanghai China Composite Index was up 0.68%

UPSIDE MOVERS:

PBPB, Potbelly's IPO was given a warm reception on Wall Street driving its price to $33.78 from the $14 offering price

TKMR, The biopharmaceutical company reported that additional data from the Phase I/II clinical trial of its lead oncology product candidate, TKM-PLK1, shows positive results

PGRX, Prospect Global received its Air Quality Control Permit for the construction and operation of an underground potash mine and surface processing facilities from the Arizona Department of Environmental Quality.

DOWNSIDE MOVERS

CHMI, Share prices fell to an $18.06 low from $20 IPO price

LCI, Priced an underwritten public offering of 4.25 million share of its common stock at $18 apiece, generating around $76.5 million in gross proceeds

GAGA, The greenhouse vegetable producer said that production hubs in China's Guangdong province have suffered "substantial" damage from super-typhoon Usagi late last month.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: PBPB

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