The markets surged to close sharply higer with the Dow leaping 190 points to 13,010 as oil prices fell. Nasdaq jumped 68 points to 2481.
On the upside
Retreating oil prices lifted shares of American Airlines parent company AMR (NYSE: AMR).
GrafTech International (NYSE: GTI) reported first quarter earnings that more than doubled as restructuring charges declined and prices rose prompting the graphite electrode company to lift its full year guidance.
First quarter earnings for Trinity Industries (NYSE: TRN) rose as the company's structural wind towers business grew.
On the downside
Hologic (Nasdaq: HOLX) reported higher second quarter earnings but the results disappointed analysts.
First quarter earnings for Apache (NYSE: APA) surged but the results fell short of estimates.
Elizabeth Arden (Nasdaq: RDEN) blamed the sluggish environment for swinging to a first quarter loss and cut its full year guidance.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 730.
