Dow Jones gains 3% on tech rebound
The U.S. stocks experienced a strong rebound at the end of Thursday's trading session, with the Nasdaq soaring by 3%, marking its largest gain in six sessions. The Dow Jones Industrial Average rose by 1.3%, gaining 645 points, while the S&P 500 increased by 1.7%. This recovery came after a significant decline on Wednesday and was driven by record gains in technology and semiconductor stocks, notably Microsoft's stock jumping over 16% on strong cloud computing service results. The market demonstrated increased appetite for growth stocks, despite a decline in shares like Meta due to weak revenue forecasts. Investors also raised their expectations following a rise in U.S. Treasury yields to their highest level since 2007, amid anticipation of earnings reports from major companies such as Apple and Amazon during the earnings season.
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