MFI:CC - Dow NASDAQ Hike 200+
Tech companies, led by Apple, powered the market Thursday and pulled the major averages into positive territory.
The Dow Jones Industrials fought its way back into the win column 201.94 points at 37,468.61
The much broader index regained 41.73 points to 4,780.94.
The NASDAQ spiked 200.03 points, or 1.4%, to 15,055.65.
Apple shares advanced around 3.3% after Bank of America upgraded the stock to buy, calling for more than 20% upside over the next 12 months. The tech giant had its best day since May 5, 2023.
Taiwan Semiconductor Manufacturing Co, the world's largest chipmaker, added 9.8% after posting an earnings and revenue beat for the fourth quarter.
First-time filings for unemployment insurance came in at 187,000 for the week ended Jan. 13, down 16,000 from the previous period, the Labor Department reported Thursday. That was stronger than economists' consensus estimate of 208,000, according to numbers gathered by Dow Jones.
Prices for the 10-year Treasury faded, raising yields to 4.14% from Wednesday's 4.10%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.51 to $74.07 U.S. a barrel.
Gold prices shone brighter $18.40 to $2,024.90.