Stocks rally more than 1% as Facebook rebounds

(CNBC) U.S. stocks rallied on Thursday, the last trading day of the month and the quarter, as the technology sector curbed steep declines seen in recent sessions.

The Dow Jones industrial average rose 254.69 points to close at 24,103.11, with Intel rising 5 percent. The S&P 500 gained 1.4 percent to 2,640.87, with tech rising 2.2 percent. The Nasdaq composite advanced 1.6 percent 7,063.44.

Transports also climbed 2 percent, but were still deep in correction territory.

Shares of Facebook rose 4.4 percent, while Apple, Netflix and Alphabet also closed higher. Microsoft rose 2.1 percent after the company announced a major reorganization.

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