Markets Surge Over Hopes For Tapering Slowdown

Weak jobs data sparked speculation that the Federal Reserve may slow its tapering program. The markets soared to close sharply higher with the Dow surging 165 points to 15,794. Nasdaq jumped 68 points to 4215.

On the upside

9to5Mac reported that Apple (Nasdaq: AAPL) may use sapphire crystal displays to be made by GT Advanced (Nasdaq: GTAT) in future iPhones.

Cytokinetics (Nasdaq: CYTK) reversed year ago losses to post an unexpected profit for the fourth quarter as revenue surged.

HTC must pay licensing fees to Nokia (NYSE: NOK) to settle a patent dispute.

On the downside


Montage Technology (NYSE: MONT) denied allegations made by Gravity Research that company financial statements included false and misleading information but the stock price continued falling.

Energy XXI (NYSE: EXXI) disappointed with sharply lower second quarter earnings.

FMC Technologies (NYSE: FTI) reported higher fourth quarter earnings but the company forecast 2014 earnings that fell short of 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 23 points to 1797. Bitcoin tumbled $100.00 or 13.68% to $731.00.

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