The Dow surged 125 points to close at a record high of 14,253 after China announced plans to guarantee 7.5% economic growth in 2013. Nasdaq leaped 42 points 3224.
On the upside
Fourth quarter earnings surged nearly threefold for Santarus (Nasdaq: SNTS) as revenue soared.
Shares of Qihoo 360 (NYSE: QIHU) climbed ahead of its earnings release after market close.
Speculation that Sohu.com (Nasdaq: SOHU) may be taken private lifted shares of the online media company.
On the downside
Profit taking sank shares of Boyd Gaming (NYSE: BYD).
Wunderlich downgraded SandRidge Mississippian Trust (NYSE: SDT) from a Sell rating to a Hold rating and cut its price target to $13 from $17.50.
Needham initiated coverage of Millennial Media (NYSE: MM) with a Hold rating.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index climbed 14 points to 1539.
