Higher open as China's CPI rises

The markets opened sharply higher with the Dow surging 135 points to 17,712 as China's consumer price index rose 2.3% in March. Nasdaq soared 43 points to 4,893.


On the upside


Chesapeake Energy (NYSE: CHK) amended its credit facility agreement.


MannKind (Nasdaq: MNKD) will host a conference call to discuss the company's commercialization strategy for the inhalable insulin Afrezza.


Annaly Capital will pay a premium of approximately $1.5 billion to acquire Hatteras Financial (NYSE: HTS).


On the downside


The Mexican Secretary of Environment and Natural Resources denied an application by Odyssey Marine Exploration (Nasdaq: OMEX) for an environmental license for the Don Diego dredging and phosphate sand extraction project.


MiMedx Group (Nasdaq: MDXG) reported first quarter revenue that fell short of previous guidance.


Insys Therapeutics (Nasdaq: INSY) warned that first quarter revenue would miss expectations.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 13 points to 2,060. Bitcoin edged up to $419.

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