Dow up over 350 points after weak opening

By Ovunc Kutlu

ISTANBUL (AA) - The Dow Jones was up more than 350 points on Monday after it started the new week on a weak note by opening flat.

The blue-chip index gained 354 points, or 0.9%, to 39,505 at 12.12 p.m. EDT. At Friday's close, it posted its best weekly performance since May with a weekly gain of 1.45%.

The S&P 500, meanwhile, was up 12 points, or 0.22%, to 5,476 at the time. The index climbed briefly above a record high of 5,500 points Thursday for the first time, while it increased 0.6% last week.

The Nasdaq, on the other hand, lost 65 points, or 0.37%, to 17,623. The tech-heavy index closed lower Thursday to end its seven-day winning streak.

The VIX volatility index, also known as the fear index, rose 0.3% to 13.24. The 10-year US Treasury yield rose 0.28% to 4.270%.

The dollar index lost 0.26% to 105.52, while the euro added 0.35% to $1.0728 against the greenback.

Precious metals were mixed, with gold rising 0.35% to $2,329 per ounce but silver trimming 0.17% to $29.50.

Oil prices were up around 0.9%, with global benchmark Brent crude at $85.10 and US benchmark West Texas Intermediate at $81.55.