US stock market bounces back to close with gain

By Ovunc Kutlu

ANKARA (AA) - Major indexes in the US stock market recovered from early losses to end Thursday on a higher note.

After opening 160 points down, the Dow closed with a 199 point gain at 32,619 with Morgan Stanley and JPMorgan gaining 1% each.

The S&P 500 was down 0.4% at the opening bell but ended the day with a 0.5% increase to 3,909 with Tesla recovering from a 2.2% loss, gaining 1.5%.

The tech-heavy Nasdaq was off 0.6% at the opening and bounced back to close 0.1% in the black at 12,977, with GameStop and AMC Entertainment soaring 52% and 21%, respectively.

The strong comeback came with a decline in the VIX volatility index as it was down a massive 6.5% to below the critical level of 20. The fear index was up 2.7% at 21.77 at the first bell.

Bitcoin saw its price plummet 10% earlier to just above $50,000 but it was just above $52,500 when markets closed, while other cryptocurrencies also recovered.

In the precious metals market, gold was down 0.4% to $1,726 per ounce, but silver was flat just above $25 for the day.

Meanwhile, the Senate confirmed Wally Adeyemo as the deputy secretary of the Treasury, as he has become the first Black to hold that role in the history of the department, which is led by Janet Yellen -- the first female to lead the agency