Crude oil prices rebounded sending the markets soaring during the midday with the Dow jumping 287 points to 16,173. Nasdaq leaped 55 points to 4,573.
On the upside
Swift Transportation (NYSE: SWFT) reported higher fourth quarter earnings that topped analyst estimates.
Terex (NYSE: TEX) has rejected an acquisition offer from Zoomlion Heavy Industry Science and Technology and will complete its merger with Konecranes Oyj.
Rising crude oil prices lifted shares of Bonanza Creek Energy (NYSE: BCEI) and California Resources (NYSE: CRC).
On the downside
Polaris Industries (NYSE: PII) disappointed with lower fourth quarter earnings and revenue and forecast full year earnings below expectations.
Investors locked in profits on Nxt-ID (Nasdaq: NXTD).
Genesis Healthcare (NYSE: GEN) extended its losses.
In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 leaped 29 points to 1,906. Bitcoin added $1 to $395.
