Confidence in U.S. economy boosts stocks

The stock market rallied throughout the day on confidence in the U.S. economy with the Dow closing at 16,956, up nearly 130 points while Nasdaq surged 50 points to finish the session at 4,458.

On the upside

Shares of GoPro (Nasdaq: GPRO) rallied for a fourth consecutive trading day more than double its IPO price of $24 a share last Thursday.

Twitter (Nasdaq: TWTR) has hired Anthony Noto, a former Goldman Sachs executive, to replace chief financial officer Mike Gupta.

Salix Pharmaceuticals (Nasdaq: SLXP) announced positive results for its treatment of irritable bowel syndrome.

On the downside

Shares of Accuity Brands (NYSE: AYI) tumbled after reporting higher revenues and earnings for the 3rd quarter, but missed analysts expectations.

An FDA warning letter about problems at a STAAR Surgical Company (Nasdaq: STAA) facility that makes implantable lenses for the eye triggered a sell-off.

Synageva BioPharma (Nasdaq: GEVA) announced trial data for its treatment of liver injury. However, analysts were lukewarm about the results.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 the NYSE and by almost 3 to 1 on Nasdaq. The broader S&P 500 rose 13 points to close at 1973. Bitcoin rose $6.34 or 0.98% to $644.33.