The major stock indexes rebounded Thursday as a rally in some of Wall Street's largest technology names carried the Nasdaq Composite to an all-time high at the start of the corporate earnings season.
The tech-heavy Nasdaq rose 1.4 percent to 7,823.92 as Facebook and Amazon, both reached all-time highs. Microsoft and Alphabet also hit intraday records. The Nasdaq also posted its biggest one-day gain since June 1, when it rose 1.5 percent. Netflix did not participate in the broad tech rally, however, falling more than 1 percent.
The Dow Jones Industrial Average rose 224.44 points to close at 24,924.89 with Cisco Systems and Intel as the best-performing stocks in the index. The S&P 500 gained 0.9 percent to 2,798.29 with tech advancing 1.8 percent.
Equities rebounded from a steep sell-off on Wednesday sparked by a potential escalation in a trade war between the U.S. and China. The U.S. unveiled on Tuesday a list targeting $200 billion worth of Chinese goods for a 10 percent import tariff. Stocks fell sharply on the news, with the Dow snapping a four-day winning streak.