Dow posts 4th weekly gain as US stocks rebound from losses

By Ovunc Kutlu

ISTANBUL (AA) - The Dow Jones closed Friday higher to post its fourth weekly gain as major stock exchanges in the US regained some of their massive losses from previous days.

The blue-chip Dow jumped 654 points, or 1.64%, to finish the day at 40,589 as it saw a weekly gain of 0.8%.

The S&P 500 gained almost 60 points, or 1.11%, to end the week at 5,459 after it lost 2.31% on Wednesday and an additional 0.51% on Thursday. The index fell 0.8% this week.

The Nasdaq increased 176 points, or 1.03%, to close the session at 17,357 at the time. The tech-heavy index plummeted 3.64% on Wednesday, while it lost 2.1% for the week.

The S&P 500 and the Nasdaq posted Wednesday their worst daily performance since 2022.

The VIX volatility index, also known as the "fear index," dove 11.3% to 16.38. The 10-year US Treasury yield declined 1.46% to 4.197%.

The dollar index decreased 0.04% to 104.31, while the euro rose 0.11% to $1.0856 against the greenback.

Precious metals were on the rise, with gold adding 0.9% to $2,385 per ounce and silver increasing 0.17% to $27.90.

Oil prices were down around 1.8%, with global benchmark Brent crude priced at $80.90 per barrel and US benchmark West Texas Intermediate at $76.85.