US stocks close higher, Dow Jones adds more than 300 points

US stocks closed higher on Thursday, supported by lower treasury yields and oil prices, alongside gains in the technology sector, following losses in the previous session after the first interest-rate hike in three years.

The Dow Jones Industrial Average added 0.61%, or 316 points, to 51,778.

The broader S&P 500 gained 1.14%, or 85 points, to 7,637, while the Nasdaq Composite climbed 1.69%, or 439 points, to 26,418.

In Europe, the STOXX Europe 600 rose 0.86% to 642.

The UK’s FTSE 100 increased 1.19% to 10,816 points, while Germany’s DAX advanced 0.70% to 25,716 and France’s CAC 40 inched up 0.57% to 8,186.

In Japan, the Nikkei 225 rose 0.33% to 64,136, while the broader TOPIX gained 0.80% to 4,094.

Oil prices retreated, with Brent crude futures for November delivery dropping 0.95%, or $1.01, to $104.82 a barrel.

US NYMEX crude futures for October delivery shed 0.51%, or $0.52, to $101.91 a barrel.

Gold futures for December delivery edged up 0.27%, or $12.20, to $4,399.7 an ounce.

Market drivers

Wall Street rebounded as treasury yields and oil prices declined, while technology stocks helped drive the recovery. However, escalating tensions in the Middle East kept concerns over inflation and market volatility in place.