The Markets Get a Boost From Oil's Third Day Rally

Dow closes up 125 points, oil higher for third-straight day

Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, oil prices and Amazon and Microsoft earnings.

The bulls came off the sidelines today and stayed in the game until the closing bell! The Dow closed up 125 points. The S&P gained more than 10 points. And the Nasdaq jumped almost 39 points.

The rally was partly thanks to oil, which closed higher for a third straight day.

Two stocks had their biggest one day gains in 2 -years thanks to positive earnings reports.

Facebook crushed estimates and reported over $5.8 billion in revenue. And get this: its market cap at $247 billion is now bigger than the world’s largest retailer Walmart that is about $204 billion. Shares closed higher by 15%. Under Armour reported a surge in profit and revenue, while also offering a better than expected outlook. The big driver - the recent success of NBA star Steph Curry. Shares jumped 22%.

Ahead of its highly anticipated earnings Amazon spiked nearly 9% during trade today. But the company disappointed investors, by missing on both top and bottom line for the quarter. The e-commerce giant did see sales up 22% thanks to a healthy holiday season. But it wasn't enough for investors-- shares are falling more than 10% after hours.

Microsoft earnings telling a happier story though. The tech company beating on the top line.

Investors liking what they see, the stock is up around 5% in after hours.

The company attributes the positive report to solid sales for the surface tablet, xBox and growth in its cloud business.