US stocks higher after Biden quits presidential race

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US were higher on Monday, a day after President Joe Biden decided to withdraw from the Nov. 5 presidential election.

The Dow Jones industrial average was up 171 points, or 0.43% to 40,459 at 12.21 p.m. EDT. (1621GMT). The blue-chip index rose 0.72% last week.

The S&P 500 increased 36 points, or 0.65%, to 5,540 after the index last week lost 1.97%.

The Nasdaq jumped 184 points, or 1.04%, to17,911. The tech-heavy index recorded a decline of 3.65% for last week.

Both the S&P 500 and the Nasdaq last week posted their largest weekly losses since April.

The VIX volatility index, also known as the fear index, dove 6.2% to 15.49 at the time. The 10-year US Treasury yield added 0.73% to 4.270%.

The dollar index decreased 0.02% to 104.36, while the euro rose 0.07% to $1.0885 against the greenback.

Precious metals were in negative territory, with gold falling 0.5% to $2,388 per ounce and silver decreasing 0.57% to $29.05.

Oil prices were down around 0.3%, with global benchmark Brent crude at $82.34 and US benchmark West Texas Intermediate at $78.34