BB:CC - Equities Recover from Thursday Pasting
The Dow Jones Industrial Average jumped Thursday morning, rebounding from the index's worst day since October as Treasury yields fell and the year-end rally resumed.
The blue chips gained 193.73 points to observe noon Thursday at 37,275.73.
The S&P 500 recouped 30.66 points to 4,729.01. Today's improvement places the broader index a little more than 1% from a record.
The S&P 500 advance was broad-based with more than 450 names rising in the broader index. CarMax was the top gainer, up more than 7% after the used vehicle retailer posted third-quarter earnings that topped expectations.
The NASDAQ regained 125.96 points to 14,903.90.
Micron Technology jumped 7% after the memory chipmaker posted quarterly results that beat expectations, and offered current-quarter guidance that exceeded analysts' consensus forecasts. Salesforce gained more than 2% following an upgrade from Morgan Stanley.
From their late October closing lows through Tuesday, the Dow and S&P 500 both jumped more than 15%. The NASDAQ Composite surged roughly 19% over the same period.
Prices for the 10-year Treasury paled, raising yields to 3.88% from Wednesday's 3.86%. Treasury prices and yields move in opposite directions.
Oil prices fell 73 cents to $73.49 U.S. a barrel.
Gold prices jumped $6.60 at $2,054.30.
Equities Recover from Thursday Pasting