Modestly higher close as Fed wavers

The markets closed modestly higher with Dow rising 27 points to 17,902 after Federal Reserve minutes indicated differing opinions over an interest rate increase. Nasdaq climbed 40 points to 4,950.

On the upside

Zep (NYSE: ZEP) swung to a profit for the second quarter and announced that the company would be taken private by New Mountain Capital in a deal valued at approximately $692 million including the assumption of debt.

Advaxis (Nasdaq: ADXS) and Merck (NYSE: MRK) announced that enrollment began in the Phase 1/2 clinical trial of ADXS-PSA and KEYTRUDA to treat advanced prostate cancer.

Efforts by China to stimulate its sluggish economy lifted share of YY (Nasdaq: YY) and Youku Tudou (NYSE: YOKU).

On the downside

Falling crude oil prices weighed down shares of Halcon Resources (NYSE: HK), Laredo Petroleum (NYSE: LPI) and PostRock Energy (Nasdaq: PSTR).

Shares of midstream solutions provider Crestwood Equity Partners (NYSE: CEQP) fell as crude oil prices retreated.

Scorpio Bulkers (NYSE: SALT) reported a loss for the year.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 2081. Bitcoin lost $7 to $244.