Solid earnings from IBM lifted the Dow to a higher close with the blue chip index leaping 160 points to 23,157. Nasdaq edged up a fraction to 6,624.

On the upside

Shares of Qudian (NYSE: QD) surged on its first trading day.

Bargain hunters lifted shares of Veritone (Nasdaq: VERI).

Investors snapped up shares of Viking Therapeutics (Nasdaq: VKTX).

On the downside

Supervalu (NYSE: SVU) reported a loss for the second quarter and announced an agreement to acquire Associated Grocers of Florida.

Shares of Immune Design (Nasdaq: IMDZ) extended its losses.

JPMorgan resumed coverage of Virtu Financial (Nasdaq: VIRT) with an Underweight rating.

In the broad market, advancing issues outpaced decliners by a slim margin on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added a point to 2,561. Bitcoin plunged $157 to $5,418.