The markets closed sharply higher with the Dow soaring 120 points to 18,347 on JPMorgan Chase's announcement that it would increase wages for 18,000 of its lowest paid employees. Nasdaq climbed 34 points to 5,022.
On the upside
Rising crude oil prices lifted shares of Bonanza Creek Energy (NYSE: BCEI), Denbury Resources (NYSE: DNR) and Stone Energy (NYSE: SGY).
Baupost Group acquired an 18.5% stake in Cascadian Therapeutics (Nasdaq: CASC).
Shutterstock (NYSE: SSTK) announced an image licensing deal with Google (Nasdaq: GOOG).
On the downside
Retreating gold prices weighed down shares of Barrick Gold (NYSE: ABX) and McEwen Mining (NYSE: MUX).
Shares of Amazon (NYSE: AMZN) fell on muted enthusiasm for its Prime Day global sales event.
Shares of Endeavour Silver (NYSE: EXK) and First Majestic Silver (NYSE: AG) fell as silver prices slipped.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 14 points to 2,152. Bitcoin gained $16 to $661.
