SA - Dow, S&P retreat from record highs as US stocks open lower

By Ovunc Kutlu

ISTANBUL (AA) - The Dow Jones and the S&P 500 retreated from their record high levels as US stocks opened Friday on a lower note.

The blue-chip Dow fell 60 points, or 0.14%, to 41,964 at 10.18 a.m. EDT (1418GMT) after it rose 1.26% Thursday as the Federal Reserve's jumbo interest rate cut fueled the stock market.

The S&P 500, meanwhile, decreased 17 points, or 0.31%, to 5,695 after it soared 1.7% on previous session.

The Nasdaq Composite, meanwhile, fell 75 points, or 0.42%, to 17,933. The tech-heavy index jumped 2.51% on Thursday.

The VIX volatility index, referred to as the "fear index," fell 0.9% to 16.18. The 10-year US Treasury yield added 1.3% to 3.757%.

The US dollar index increased 0.3% to 100.93, while the euro fell 0.2% against the dollar, trading at $1.1137.

Precious metals were in positive territory. Gold added 0.8% to $2,608 per ounce and silver rose 0.7% to $31.01.

Oil prices fell around 0.6%, with global benchmark Brent crude at $74.34 per barrel and US benchmark West Texas Intermediate at $70.71.