Dow Jones up 360 points, heading for best month since October 2022

U.S. stocks were mixed Thursday in the final hour of trade, with the Dow Jones Industrial Average on pace for its highest close in at least a year. The Dow
DJIA,
+1.24%
was up about 366 points, or 1%, near 35,803 at last check, according to FactSet data. The S&P 500 index
SPX,
+0.16%
was trading between small gains and losses near 4,549. The Nasdaq Composite Index
COMP,
-0.47%
was down 95 points, or 1%. Stocks are on pace to post their best month of 2023, with a sharp retreat in bond yields providing a big lift. The benchmark 10-year Treasury yield
TMUBMUSD10Y,
4.357%
was up 8 basis points to 4.35% on Thursday, well below the 5% peak of October. Investors will be focused on comments on Friday from Federal Reserve Chairman Jerome Powell, even though he isn’t expected to endorse growing expectations in financial markets about potential quick rate cuts next year.