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{{ad('main')}} - Stocks jumped Thursday as Wall Street recovered from a sell-off that wiped out 2018 gains.
- Strong earnings results helped lift technology companies that had dragged on indices Wednesday.
- On Wednesday, the major averages wiped out their gains for the year.
US stocks made a comeback Thursday, a day after the major averages wiped out their gains for the year. Buoyed by solid corporate earnings, the advance had traders putting worries about rising interest rates and the prospect of a slowdown in global economic growth on the back burner — at least for a day. The Dow Jones Industrial Average jumped 1.9%, or nearly 500 points. The the Nasdaq Composite jumped 3.5%, and the S&P 500 was 2.4% higher. A combination of fears, including rising rates and the prospect of slowing economic growth, had pushed the Nasdaq into correction territory Wednesday. The Nadsaq got a boost from Tesla (+9.14%) reporting a surprise profit after Wednesday's close and Twitter (+15.47%) announcing impressive results ahead of Thursday's opening bell. Despite the strong results, the social-media company said it lost millions of users. AMD (-15.45%) bucked the trend, disappointing on both revenue and guidance. The Dow components Microsoft (+5.84%), which is also on the Nasdaq, and Visa (+4.66%) posted strong quarterly results, while Merck (-0.81%) missed on the top line but beat on the bottom line. Numerous worries have weighed on Wall Street in October, sending the major averages down by 9% to 13% from their recent peaks. Traders have been grappling with the prospect of the Federal Reserve hiking interest rates at a faster pace than expected, with even President Donald Trump voicing those concerns. "Every time we do something great, he raises the interest rates," Trump told The Wall Street Journal, adding that Federal Reserve Chairman Jerome Powell "almost looks like he's happy raising interest rates." But that's not all. A slowdown in China, which recently posted its weakest growth in a decade, has some sounding the alarm about a slowing global economy. "Overall, earnings results are good, but pockets of results, such as those in the Industrials sector, show the impact of tariffs and the slowdown in global trade," Jason Draho, the head of American asset allocation at UBS, said on Wednesday. Elsewhere, West Texas Intermediate crude oil (+87%) spiked back over $67 a barrel after the OPEC cartel of oil exporters warned that swelling oil inventories could be driving the market toward oversupply and said it would adjust output accordingly. Light selling in the bond market pushed the 10-year yield up to 3.122%. SEE ALSO: 'Tesla may have crossed the line to become self-funding': Here's what Wall Street is saying about Tesla's surprise profit | 
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