The markets rallied to close sharply higher with the Dow rocketing 313 points to 15,925 as crude oil prices rebounded. Nasdaq leaped 70 points to 4,337.
On the upside
Shares of Teck Resources (NYSE: TCK) rose after reporting a smaller than expected loss yesterday.
Reuters reported that Intercept Pharmaceuticals (Nasdaq: ICPT) was exploring a possible sale of the company.
Fourth quarter earnings surged for Mercer International (Nasdaq: MERC) to beat analyst expectations.
On the downside
Amkor Technology (Nasdaq: AMKR) fell to a loss for the fourth quarter as revenue dropped.
Knowles (NYSE: KN) widened losses for the fourth quarter.
Bankruptcy concerns continued to weigh down shares of Chesapeake Energy (NYSE: CHK).
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 soared 35 points to 1,864. Bitcoin edged up to $385.