The markets opened sharply higher with the Dow leaping 219 points to 16,105 as November home prices climbed. Nasdaq gained 18 points to 4,537.
On the upside
Freeport-McMoRan (NYSE: FCX) reported a smaller than expected loss for the fourth quarter and will accelerate its debt reduction plans.
SCOCO Group (Nasdaq: SGOC) signed a long-term, exclusive agreement authorizing Macau Jinyi Technology to develop and market BOCA branded energy saving and environmental protection products and technologies in Macau.
Sprint (NYSE: S) narrowed third quarter losses more than expected and lifted its full year forecast.
On the downside
Novavax (Nasdaq: NVAX) priced its offering of $300 million of convertible senior notes.
Investors locked in profits on EnerNOC (Nasdaq: ENOC).
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 soared 19 points to 1,896. Bitcoin eased a fraction to $393.