S&P 500, Nasdaq hit new records as US stocks start week with gains

By Ovunc Kutlu

ISTANBUL (AA) - The Nasdaq and the S&P 500 climbed to new record highs on Monday as US stocks kicked off the new week with gains.

The Dow Jones Industrial Average was up 193 points, or 0.49%, to 39,569 at 10.17 a.m. EDT (1417GMT). The blue-chip index rose 0.5% last week.

The S&P 500 added 11 points, or 0.2%, to a fresh record-high of 5,578 after the index finished Friday with a weekly gain of 1.8%.

The Nasdaq, meanwhile, gained 31 points, or 0.17%, to hit a new all-time high of 18,384. The tech-heavy index jumped 3.4% last week.

The new record levels came as recent jobs figures on Friday raised investors' hopes that the Federal Reserve could begin lowering interest rates in September.

The VIX volatility index, also known as the fear index, rose 0.64% to 12.56. The 10-year US Treasury yield added 0.24% to 4.278%.

The dollar index fell 0.06% to 104.81, while the euro gained 0.06% to $1.0843 against the greenback.

Precious metals moved down, with gold losing 0.7% to $2,374 per ounce and silver trimming 0.2% to $31.14.

Oil prices were down around 0.6%, with global benchmark Brent crude at $86.09 and US benchmark West Texas Intermediate at $82.64.