The markets surged to close sharply higher with the Dow soaring 165 points to 17,417 as consumer spending rose in the third quarter. Nasdaq climbed 32 points to 5,001.
On the upside
Bargain hunters snapped up shares of Plains GP Holdings (NYSE: PAGP).
Automotive News reported that Ford (NYSE: F) has been in negotiations with Google (Nasdaq: GOOG) to build driverless cars.
BMO Capital Markets downgraded Whiting Petroleum (NYSE: WLL) from an Outperform rating to a Market Perform rating but the stock price rose.
On the downside
Gener8 Maritime (NYSE: GBSN) entered new pool agreements with VL8 Pool.
Citigroup reiterated its Underweight rating for Chesapeake Energy (NYSE: CHK).
Jim Cramer said that Encana (NYSE: ECA) would continue to fall indefinitely.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 17 points to 2,038. Bitcoin added $1 to $436.
