The Nasdaq composite index notched its best advance in nearly five months today as a recovery in the dollar motivated US investors to pick up shares following two weeks of declines.

The technology-dominated Nasdaq composite index suffered its biggest one-day point loss in nearly 15 months today after Opec’s surprise decision to cut oil production sent stocks tumbling. The Dow Jones industrials plunged 150 points.

A burst of optimism about second-quarter earnings propelled stocks sharply higher today, lifting the Dow Jones industrials more than 140 points.