Stocks make the rebound official Thursday, as Treasury yields finally eased. Tech stocks led the charge, with investors cheering indications the Federal Reserve may keep interest rates unchanged at its September meeting. The Dow jumped 624 points while the Nasdaq climbed 366 points. The S&P 500 also finished solidly higher, with all three major indexes notching their strongest one-day gain since Aug. 4.
The 10-year Treasury yield moved back below 4.8%, after Fed Governor Christopher Waller signaled support for keeping borrowing costs steady at the September meeting, provided inflation doesn't come in hot. Meanwhile, the Cboe Volatility Index (VIX) declined for the sixth time in seven sessions.
Gold Extends Rebound as Crude Tops $91
Oil prices rose slightly Thursday, as Iran continued attacks on U.S. allies in the Gulf. Front-month WTI crude added 0.3% to settle at $91.30 per barrel.
Gold prices pushed higher as well, finding support from a pullback in the U.S. dollar and Treasury yields from their recent highs. December gold futures climbed 2.9% to finish around $4,491.70.
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