Rally extended on strong industrial production

The markets extended its rally for the third session with the Dow rocketing 257 points to 16,453 on strong industrial production. Nasdaq jumped 98 points to 4,534.

On the upside

Warren Buffet’s Berkshire Hathaway has acquired 26.5 million shares of Kinder Morgan (NYSE: KMI).

Rising copper prices lifted shares of Teck Resources (NYSE: TCK).

Shares of Comstock Resources (NYSE: CRK) rose as crude oil prices climbed.

On the downside

Invacare (NYSE: IVC) announced an offering of $130 million in convertible senior notes.

Bloomin’ Brands (Nasdaq: BLMN) reported lower fourth quarter earnings and revenue and forecast full year earnings below estimates.

Maxwell Technologies (Nasdaq: MXWL) widened losses more than expected for the fourth quarter and forecast current quarter revenue below expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 leaped 31 points to 1,926. Bitcoin climbed $13 to $418.

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