First time applications for unemployment benefits dropped to its lowest level in nearly 45 years to lift the markets to a higher open with the Dow gaining 58 points to 24,855. Nasdaq climbed 34 points to 7252.

On the upside

Sangamo Therapeutics (Nasdaq: SGMO) entered a global collaboration agreement with Gilead's (Nasdaq: GILD) Kite to develop next generation ex vivo cell therapies to treat cancer.

Whiting Petroleum (NYSE: WLL) reported a smaller than expected loss for the fourth quarter.

Chesapeake Energy (NYSE: CHK) reversed year ago losses to post a stronger than expected profit for the fourth quarter.

On the downside

Macquarie Infrastructure (NYSE: MIC) reported higher fourth quarter earnings due to the new tax law but earnings before taxes fell.

Roku (Nasdaq: ROKU) reported better than expected earnings for the fourth quarter but the company forecast current quarter revenue below estimates.

Wayfair (NYSE: W) widened fourth quarter losses more than expected.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 gained 9 points to 2,710. Bitcoin crashed $515 to $9,970.