Spotify's impressive market debut boosted investor enthusiasm to lift the markets to a sharply higher close with the Dow surging 389 points to 24,033. Nasdaq leaped 71 points to 6941.

On the upside

Shares of Spotify (NYSE: SPOT) soared on its first trading day.

Allogene Therapeutics will assume the strategic collaboration and license agreement that Pfizer (NYSE: PFE) had with Cellectis (Nasdaq: CLLS) to develop "off-the-shelf" CAR T immunotherapies for oncology.

Bargain hunters lifted shares of Sunlands Online Education Group (NYSE: STG).

On the downside

Investors locked in profits on Limelight Networks (Nasdaq: LLNW).

Rigel Pharmaceuticals (Nasdaq: RIGL) reported disappointing Phase 2 study results.

Seeking Alpha wrote that Nova Lifestyle (Nasdaq: NVFY) has key unresolved issues.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 climbed 32 points to 2,614. Bitcoin fell $30 to $7,403.