Thursday morning saw an impressive rebound in the Dow Jones Industrial Average, recovering from its worst day since October. This resurgence came about as Treasury yields decreased and the year-end rally regained momentum.
The Dow Jones Industrial Average experienced a noteworthy climb of 229 points, equivalent to a 0.58% increase. The S&P 500 also saw a rise of 0.72%, while the Nasdaq Composite performed particularly well with a gain of approximately 1%.
Micron, a leading memory chipmaker, saw a substantial surge of 7% after surpassing expectations with its quarterly results. Furthermore, its current-quarter guidance exceeded the consensus forecasts of analysts. Similarly, Salesforce enjoyed a 2% boost in its stock value following an upgrade from Morgan Stanley.
Meanwhile, Treasury yields continued to decline, reaching their lowest point since July. Specifically, the benchmark 10-year Treasury yield dropped below 3.85% at the time.
Source (CNBC)
