Wall Street staged a broad rebound on Thursday, with the Dow Jones Industrial Average climbing 319.73 points, or 0.61%, to close at 51,774.38. The S&P 500 gained 1.14% to 7,637.90, while the Nasdaq Composite jumped 1.66% to 26,410.50, as falling Treasury yields and easing oil prices helped investors move past the Federal Reserve’s first rate increase in more than three years.
The recovery came one day after the Dow tumbled 631.21 points, or 1.2%, to 51,461.90—its lowest close in three months—after the Fed raised its benchmark rate by 25 basis points to a range of 3.75%–4.00%. The central bank also signaled that another hike could arrive later this year, with CME FedWatch data showing traders pricing a roughly 51% to 53% chance of an increase at the October meeting, up from about 44% a day earlier and 27.2% a week before.
Key pressure points eased. The 10-year Treasury yield fell back below 5% to around 4.945%, while U.S. crude traded near $101 a barrel and Brent declined to about $103–$104. Reports that Saudi Arabia made additional crude cargoes available to Asian refiners via ship-to-ship transfers near Oman’s Sohar port helped calm supply-disruption fears. Tech led the rebound, with Nvidia and Amazon up about 2%, Microsoft rising 1%, Qualcomm gaining 2% and Intel surging 9%.
Crypto-linked stocks also advanced after the U.S. Securities and Exchange Commission introduced a five-year exemption for tokenised stock trading. Circle Internet Group, Robinhood and Coinbase all closed higher. Meanwhile, weekly jobless claims fell near their lowest levels since 1969, supporting the view that the labour market remains resilient. Not all shares participated: CoreWeave fell after announcing capital-raising plans, and Fluence Energy dropped after cutting its fiscal 2026 revenue outlook.
