Dow Jones closes at new record high level

By Ovunc Kutlu

ISTANBUL (AA) - The Dow Jones closed Friday at a new record high level, as major US stock exchanges posted more than 1.3% weekly gains fueled by the Federal Reserve's jumbo interest rate cut.

The blue-chip index rose 38 points, or 0.09%, to finish the session at 42,063. It saw a weekly gain of 1.62%.

The S&P 500, on the other hand, fell 11 points, or 0.19% to 5,702 but it managed to post a weekly increase of 1.36%.

The Nasdaq, meanwhile, lost 65 points, or 0.36%, to end the day at 17,948. The tech-heavy index rose 1.49% this week.

The VIX volatility index, referred to as the "fear index," fell 1.1% to 16.15. The 10-year US Treasury yield added 0.85% to 3.740%.

The US dollar index increased 0.18% to 100.80, while the euro fell 0.04% against the dollar, trading at $1.1157.

Precious metals were in positive territory. Gold added 1.3% to $2,620 per ounce and silver rose 1% to $31.09.

Oil prices declined around 0.2%, with global benchmark Brent crude at $74.60 per barrel and US benchmark West Texas Intermediate at $71.13.