Speculation that the European Central Bank would enact economic stimulus measures lifted the markets to a higher close with the Dow gaining 75 points to 17,076. Nasdaq climbed 18 points to 4557.

On the upside 

Life Time Fitness (NYSE: LTM) has begun exploring the possibility of converting into a Real Estate Investment Trust.

Shares of China HGS Real Estate (Nasdaq: HGSH) extended its gains.

UBS said that Achillion Pharmaceuticals (Nasdaq: ACHN) may be a possible candidate for an acquisition.

On the downside 

China Ming Yang Wind Power Group (NYSE: MY) reversed year ago losses to post a profit for the second quarter but the stock price fell.

TheStreet cited multiple weaknesses for rating Molycorp (NYSE: MCP) a Sell.

Shares of Quicksilver Resources (NYSE: KWK) slipped after Market Realist wrote that natural gas prices have been falling. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 gained 9 points to 1997. Bitcoin lost $6 to $502.