The markets opened sharply higher with the Dow surging 134 points to 17,855 as Chinese exports climbed in March. Nasdaq climbed 59 points to 4,931.
On the upside
Foresight Energy (NYSE: FELP) may be nearing a deal to avoid bankruptcy.
Credit Suisse upgraded ArcelorMittal (NYSE: MT) from a Neutral rating to an Outperform rating.
JPMorgan (NYSE: JPM) reported better than expected first quarter earnings and revenue.
On the downside
JPMorgan and Credit Suisse downgraded Clovis Oncology (Nasdaq: CLVS) after a Food and Drug Administration advisory committee recommended against approval of the non-small cell lung cancer treatment rociletinib.
Retreating crude oil prices weighed down shares of Bonanza Creek Energy (NYSE: BCEI).
Pacific Crest downgraded Sprint (NYSE: S) from a Sector Weight rating to an Underweight rating.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 13 points to 2,075. Bitcoin held steady at $422.
