The markets surged to close sharply higher with the Dow leaping 185 points to 17,602 as crude oil prices climbed. Nasdaq soared 44 points to 5,0458.
On the upside
Rising crude oil prices lifted shares of Bonanza Creek Energy (NYSE: BCEI) and Memorial Production Partners (Nasdaq: MEMP).
Indications that China may implement economic reforms to stimulate growth lifted shares of Freeport-McMoRan (NYSE: FCX).
Shares of Azure Midstream Partners (NYSE: AZUR) continued soaring.
On the downside
Andrews & Springer initiated an investigation into Heron Therapeutics (Nasdaq: HRTX) for possible securities violations.
Shares of ShoreTel (Nasdaq: SHOR) extended its losses.
Bank of America/Merrill Lynch said that steel import tariffs failed to deter shipments from China, India, Italy and Korea which weighed down shares of U.S. Steel (NYSE: X).
In the broad market, advancing issues outpaced decliners by a margin of more than 6 to 1 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 soared 25 points to 2,064. Bitcoin rose $6 to $441.
