The markets closed higher with the Dow gaining 44 points to 16,943 as crude oil prices edged up and factory orders climbed. Nasdaq rose 4 point to 4,707.

On the upside

Optimism that foreign investors may infuse GOL Linhas (NYSE: GOL) with cash lifted shares of the Brazilian airliner.

Societe Generale downgraded Bonanza Creek Energy (NYSE: BCEI) from a Buy rating to a Hold rating but the stock price climbed.

Crude oil prices edged up to lift shares of SM Energy (NYSE: SM) higher.

On the downside

Safety concerns were raised about Aerie Pharmaceuticals' (Nasdaq: AERI) experimental glaucoma eye drop Rhopressa.

Investors locked in profits on Heartware International (Nasdaq: HTWR).

Kroger (NYSE: KR) reported higher fourth quarter earnings but the grocer forecast slower growth for 2016.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 rose 6 points to 1,993. Bitcoin fell $6 to $420.