Crude oil rises, markets open higher

The markets opened higher with the Dow gaining 30 points to 17,172 as crude oil prices advanced. Nasdaq rose 5 points to 4,875.

On the upside

Alibaba (NYSE: BABA) offered a premium of approximately $3.6 billion in cash to purchase Youku Tudou (NYSE: YOKU).

Third quarter earnings for General Electric (NYSE: GE) topped expectations.

Mattel (Nasdaq: MAT) reported lower third quarter earnings and revenue that fell short of estimates but the stock price rose.

On the downside

Cempra (Nasdaq: CEMP) reported positive data from a Phase 3 clinical trial of intravenous to oral solithromycin to treat patients with community-acquired bacterial pneumonia but the stock price fell.

Quanta Services (NYSE: PWR) lowered its third quarter earnings and revenue outlook.

The Food and Drug Administration placed a partial hold on the development of Zafgen's (Nasdaq: ZFGN) obesity treatment beloranib after a patient in a late stage study died.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 gained 6 points to 2,030. Bitcoin rose $6 to $260.