Dow rallies more than 300 points as market volatility continues

The Dow finished with a gain of nearly 340 points, or 1%, while the broader S&P 500 rose 0.8%. The tech-heavy Nasdaq Composite increased by 1.1%. It was a solid gain but stocks closed off their highs from earlier in the day. Still, the rally was broad-based. Only 4 Dow stocks fell.Meanwhile, the yield on the 10-year US Treasury bond also rose to 1.57%.The US equity market has been on a roller coaster of late.

Read MoreThings were looking up after Senate Minority Leader Mitch McConnell offered options on Wednesday to prevent America from defaulting on its debts. Republicans had previously shut down Democrats' proposals to raise the debt ceiling, but a deal was announced early Thursday. On top of that, weekly claims for unemployment benefits came in lower than expected and below the prior week's level."Progress in debt ceiling talks is boosting the mood in the market.

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