On Thursday, the Dow Jones Industrial Average rebounded after experiencing its worst day since October, mainly driven by a decrease in Treasury yields and the resumption of the year-end rally.
The 30-stock Dow saw a gain of 143 points, or 0.4%, while the Nasdaq Composite saw a 0.7% increase. The S&P 500 also climbed by 0.5%, bringing it less than 1% away from a record high.
The upward movement of the S&P 500 was widespread, with over 450 companies in the broader index experiencing gains. CarMax emerged as the top performer, gaining over 7% after surpassing expectations with its third-quarter earnings report.
Micron Technology also experienced a significant jump of 7% after exceeding expectations with its quarterly results. Additionally, the company’s current-quarter guidance exceeded analysts’ predictions. Salesforce saw a positive turn of events with an upgrade from Morgan Stanley, resulting in a gain of over 2%.
Meanwhile, Treasury yields continued to decline from their previous highs, with the 10-year Treasury yield reaching its lowest level since July. It is currently below 3.85%.
Source (CNBC)
