Market gains extended as crude oil rises above $29

The markets extended its gains with the Dow leaping 236 points to 15,897 as crude oil prices rose above $29 per barrel. Nasdaq surged 58 points to 4,324.

On the upside

American Axle &  Manufacturing Holdings (NYSE: AXL) impressed with sharply higher fourth quarter earnings that surpassed expectations.

Rovi (Nasdaq: ROVI) reversed year ago losses to post a stronger than expected profit for the fourth quarter.

Shares of Freeport-McMoRan (NYSE: FCX) continued climbing.

On the downside

Select Comfort (Nasdaq: SCSS) fell to a loss for the fourth quarter as revenue dropped.

Shares of SunEdison (NYSE: SUNE) extended its losses.

Nu Skin Enterprises (NYSE: NUS) disappointed with lower earnings and revenue that missed expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 28 points to 1,857. Bitcoin rose $4 to $385.

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