The 30-stock index overcame a 190-point deficit and charged ahead 145.99 points to close Thursday at 31,375.90.
The S&P 500 surged 11.85 points to 3,966.85. Both snapped a four-day losing streak.
The NASDAQ Composite still finished in the red, though, 31.08 points to 11,785.13, to post its first five-day losing streak since February.
All of the major averages are on track to finish the week lower. The Dow and S&P are set to post a roughly 2% decline, while the NASDAQ is on pace to end down more than 3.5%.
The Dow closed August down about 4.1%, while the S&P slipped 4.2%, and NASDAQ recorded a loss of 4.6%.
Nvidia shares also contributed to the losses, falling more than 8% after the chipmaker said the U.S. government is restricting some sales in China.
Weekly U.S. jobless claims fell to 232,000 for the week ending Aug. 27. That was weaker than economists surveyed by Dow Jones expected. It was also a decline from the previous period and the lowest level since June 25.
Treasury prices sagged, raising yields to 3.26% from Wednesday’s 3.19%. Treasury prices and yields move in opposite direction.
Oil prices stumbled $3.22 to $86.33 U.S. a barrel.
Gold prices decreased $20.30 to $1,705.90 U.S. an ounce.