G-20 announced plans to give another $1.1 trillion to the International Monetary Fund and the World Bank. The Dow leaped 279 points to surpass 8000 for the first time in two months to 8040 while Nasdaq jumped 60 points to 1612.
On the upside
Robert W. Baird upgraded Commscope (NYSE: CTV).
Colorful plastic shoemaker Crocs (Nasdaq: CROX) announced a tender offer for employee stock options.
Shares of Chinese online gaming company Changyou.com (Nasdaq: CYOU) surged on its first day of trading.
Better than expected March revenue from casinos in Macau lifted shares of Wynn Resorts (NYSE: WYNN).
JPMorgan upgraded TRW Automotive Holdings (NYSE: TRW) saying that the auto parts supplier will most likely be able to amend its debt covenants.
On the downside
Labopharm's (Nasdaq: DDSS) pain medication tramadol failed a late stage clinical trial.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rocketed 25 points to 454.
