US: Metals recover, stocks up with relief hopes

By Ovunc Kutlu

ANKARA (AA) - US stocks opened higher Friday with the Senate passing budget resolution earlier that paved way for President Joe Biden's $1.9 trillion relief plan.

The Dow Jones was up 180 points, or 0.6%, to 31,235 points at 9.33 a.m. EDT (1433 GMT), while the S&P 500 rose 17 points, or 0.4%, to 3,889. The Nasdaq added 12 points, or 0.1%, to 13,789.

Oil majors were the largest gainers at opening, ExxonMobil and ConocoPhillips up by more than 2% each, after crude oil prices rose over 1%.

Price of Brent crude was at $59.67 per barrel with a 1.14% and American West Texas Intermediate at $57.14 a barrel with a 1.16% daily gain.

The US Senate's earlier resolution is positive for Biden's massive relief plan that would see more liquidity in the markets.

The dollar index was down 0.33% to $91.23, while the yield on the benchmark 10-year Treasury note was up 0.64% to 1.146% shortly after opening bell.

Gold recovered by 0.45% to $1,802 per ounce, after investors' popular safe haven plummeted Thursday to $1,785 an ounce -- its lowest level since Dec. 1.

Silver also increased 1.28% to $26.7 per ounce, while Bitcoin again climbing above critical $38,000 mark and other major cryptocurrencies gaining more than 10%.

After losing almost 85% in stock value since start of the week, small investors' favorite GameStop saw its stock price up 20% after opening.