First time applications for unemployment benefits fell more than expected last week to send the markets soaring to a sharply higher open with the Dow surging 132 points to 17,913. Nasdaq climbed 37 points to 4,870.
On the upside
Cellectar Biosciences (Nasdaq: CLRB) reported promising results from the first phase of a Phase 1 study of CLR 125 to treat triple negative breast cancer.
Nomura upgraded Micron Technology (Nasdaq: MU) from a Reduce rating to a Buy rating and lifted price target from $8 to $18.
Planet Fitness (NYSE: PLNT) priced its secondary offering of 10 million common shares at $16.50 per share.
On the downside
Whiting Petroleum (NYSE: WLL) entered an exchange agreement of $1.06 billion of notes.
Steelcase (NYSE: SCS) forecast current quarter earnings below expectations.
Red Hat (NYSE: RHT) reported higher first quarter earnings and revenue but the stock price fell after announcing plans to buy 3scale.
In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 climbed 15 points to 2,100. Bitcoin plunged $42 to $564.