Upbeat Economic Data Lifts Markets To Higher Close

The markets advanced to close sharply higher with the Dow soaring 131 points to 10,939 as private employers added 91,000 jobs to the economy while the nation's services sector expanded in August. Nasdaq surged 55 points to 2460.

On the upside

Citigroup downgraded Yingli Green Energy (NYSE: YGE) but the stock price rose. 

Tesoro (NYSE: TSO) will expand its Mandan, North Dakota refinery to add capacity. 

Magnum Hunter (NYSE: MHR) entered a services agreement with MarkWest Liberty Midstream & Resources for its Marcellus Shale.

Rising crude oil prices lifted shares of McDermott International (NYSE: MDR).

The Paragon Report issued a research paper saying that Suntech Power (NYSE: STP) had positive long term growth potential.  

On the downside

Landec (Nasdaq: LNDC) disappointed with lower first quarter earnings. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 658.