US Stocks Rebound on Lower Oil Prices and Treasury Yields

US stocks rebounded on Thursday, September 17, as lower oil prices and Treasury yields boosted sentiment. The Dow Jones Industrial Average rose by 250 points, or 0.5%, while the S&P 500 gained 1% and the Nasdaq Composite advanced 1.3%. Technology shares led the gains, with Nvidia and Amazon rising about 2% each.

Microsoft also gained 1%, while other stocks tied to artificial intelligence trade, such as Applied Materials, Qualcomm, and Intel, advanced around 2%, 4%, and 3% respectively. Industrials contributed to the advance, with Caterpillar rising more than 2%. Treasury yields fell after rising in the previous session following the Fed's decision.

The 10-year Treasury yield dropped by more than 5 basis points to 4.949%, moving back below the closely watched 5% level. Oil prices also declined, providing additional support to equities. US crude fell about 1% to around $100 a barrel, while Brent crude dropped 2% to roughly $102 a barrel.

Investors digested fresh economic data on Thursday, with initial jobless claims falling by 10,000 to a seasonally adjusted 196,000 in the week ended September 12. Continuing claims fell by 39,000 to 1.73 million. August housing data came in weaker, indicating the impact of elevated borrowing costs on the US economy.