A potential plan to lift the debt ceiling sent the markets soaring to a sharply higher open with the Dow leaping 179 points to 14,982. Nasdaq jumped 53 points to 3731.
On the upside
Bargain hunters snapped up shares of Alcatel-Lucent (NYSE: ALU).
A Seeking Alpha contributor wrote that Best Buy (NYSE: BBY) was worth $50 per share.
On the downside
Citrix Systems (Nasdaq: CTXS) warned that third quarter earnings and revenue would fall short of analyst expectations.
Ruby Tuesday (NYSE: RT) fell to a loss for the first quarter.
Quest Diagnostics (NYSE: DGX) warned that third quarter earnings would miss analyst estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 soared 20 points to 1676.