Dow rises 100 points, recovering from worst drop since October: Live updates

The Dow Jones Industrial Average rose on Thursday, rebounding from the index’s worst day since October as Treasury yields fell and the year-end rally resumed.

The 30-stock Dow gained 143 points, or 0.4%, while the Nasdaq Composite advanced 0.7%. The S&P 500 added 0.5%, which, at current prices, places the broader index 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.

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.

Treasury yields continued to fall from their highs, with the benchmark 10-year Treasury yield hitting its lowest level since July. It was last below 3.85%.

Those moves follow a losing day on Wall Street, during which investors took profits after recent gains. The Dow and Nasdaq slipped about 1.3% and 1.5%, respectively, to notch their worst sessions since October. Wednesday’s session also also snapped nine-day winning streaks for both. Meanwhile, the S&P 500 dropped almost 1.5%, its worst day since September.

“The stock market went from up to down pretty fast,” said Rhys Williams, chief strategist at Spouting Rock Asset Management. “And so, I just think it was a technical correction after a very strong period of time.”

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.