Upbeat economic data boosted the markets to a sharply higher close with the Dow leaping 254 points to 24,103. Nasdaq surged 114 points to 7063.

On the upside

Zion Oil & Gas (Nasdaq: ZN) finalized procurement details for equipment and personnel needed to commence well testing on its Megiddo Jezreel #1 well.

Unit (NYSE: UNT) will sell a 50% stake of its wholly owned subsidiary Superior Pipeline for $300 million.

Titan Machinery (Nasdaq: TITN) swung to a better than expected profit for the fourth quarter as revenue rose.

On the downside

Shares of Acxiom (Nasdaq: ACXM) tumbled after Facebook (Nasdaq: FB) announced that it was ending its Facebook Partner Categories platform.

GameStop (NYSE: GME) fell to a loss for the fourth quarter.

Sunlands Online Education Group (NYSE: STG) stock fell for the fifth day, closing lower every day since its initial public offering.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 surged 35 points to 2,640. Bitcoin collapsed $598 to $7,2741.