Optimism that the Federal Reserve will implement very modest tapering measures lifted the markets to a higher close with the Dow rising 34 points to 15,529. Nasdaq gained 27 points to 3745.

On the upside

Clovis Oncology (Nasdaq: CLVS) has engaged the services of Credit Suisse to explore strategic options including the possible sale of the company.

Credit Suisse initiated coverage of 3D Systems (NYSE: DDD) with a Buy rating.

NQ Mobile (NYSE: NQ) advanced again after introducing its Music Radar app on Friday.

On the downside

Investors locked in profits on Rock-Tenn (NYSE: RKT) and KapStone Paper and Packaging (NYSE: KS).

Coty (NYSE: COTY) narrowed fourth quarter losses but the company warned of lower revenue of lower revenue in 2014.

JinkoSolar (NYSE: JKS) offered 3.5 million American Depositary Shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 1704.