Markets soar as new home sales surge

Sales of new homes surged 16.6% to boost the markets to a sharply higher open with the Dow soaring 195 points to 17,688. Nasdaq leaped 64 points to 4,830.

On the upside

Spherix (Nasdaq: SPEX) entered a second license agreement with RPX (Nasdaq: RPXC).

GoPro (Nasdaq: GPRO) entered a multi-year, global partnership with Red Bull.

Toll Brothers (NYSE: TOL) reported higher second quarter earnings and revenue that beat expectations.

On the downside

DSW (NYSE: DSW) disappointed with lower first quarter earnings that fell short of analyst expectations and lowered its full year earnings outlook.

Seaspan (NYSE: SSW) priced its offering of 5 million common shares at the discounted price of $14.70 per share.

The borrowing base under the credit agreement of Bonanza Creek Energy (NYSE: BCEI) was cut from $475 million to $200 million.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 17 points to 2,065. Bitcoin added $2 to $446.