Optimism that British voters would chose to remain in the European Union boosted the markets during the midday with the Dow surging 154 points to 17,934. Nasdaq soared 55 points to 4,888.
On the upside
A surge in Chinese iron ore futures lifted shares of ArcelorMittal (NYSE: MT).
Ocwen Financial (NYSE: OCN) will settle two lawsuits.
A Reuters report that Belarus may cooperate with Russian potash producers lifted shares of Potash Corp. of Saskatchewan (NYSE: POT).
On the downside
Zacks Equity Research wrote that Galena Biopharma (Nasdaq: GALE) was overbought.
Shares of xG Technology (Nasdaq: XGTI) fell for the third day in a row after completing a 1-for-12 reverse stock split.
Investors locked in profits on First Data (NYSE: FDC).
In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 soared 19 points to 2,104. Bitcoin tumbled $33 to $573.
