On Thursday morning, the Dow Jones Industrial Average experienced a significant rebound, bouncing back from its worst day since October. This recovery was attributed to the decline in Treasury yields and the resumption of the year-end rally.
The 30-stock Dow saw a climb of 219 points, equivalent to a 0.6% increase, while the Nasdaq Composite showed a 0.8% advancement. Additionally, the S&P 500 also rose by 0.7%, bringing the broader index within a little over 1% of reaching a record high.
The upward movement of the S&P 500 was broad-based, with more than 450 companies experiencing gains in the index. Among them, CarMax emerged as the top performer with a remarkable increase of over 7% following the release of better-than-expected third-quarter earnings.
Micron Technology also witnessed a significant surge of 7% after surpassing expectations with its quarterly results and providing current-quarter guidance that exceeded analysts’ consensus forecasts. Furthermore, Salesforce saw an uptick of more than 2% following an upgrade from Morgan Stanley.
Source (CNBC)
