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Markets surge at open as oil prices climb

Crude oil prices climbed to lift the markets to a sharply higher open with the Dow leaping 216 points to 16,608. Nasdaq jumped 62 points to 4,567.


On the upside


Rising crude oil prices lifted shares of Freeport-McMoran (NYSE: FCX).


Fortune magazine named Alcoa (NYSE: AA) as the Most Admired Metals Company for the fifth straight year.


Speculation that iron ore demand in China will improve lifted shares of Vale (NYSE: VALE).


On the downside


The Centers for Disease Control and Prevention said that the cancer risk posed by Lumber Liquidators' (NYSE: LL) laminate flooring may be three time higher than originally reported.


Chimerix (Nasdaq: CMRX) reported disappointing results from a Phase 3 SUPPRESS trial of brincidofiovir to prevent cytomegalovirus in patients undergoing hematopoietic cell transplantation.


Profit taking weighed down shares of Weight Watchers International (NYSE: WTW).


In the broad market, advancing issues outpaced decliner by a margin of nearly 8 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 jumped 27 points to 1,944. Bitcoin edged up a fraction to $436.

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