US stocks open higher, still recovering from previous losses

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened Wednesday higher, as they are still recovering from previous days' losses when recession fears pushed global markets into a freefall.

The Dow Jones was up 350 points, or 0.9%, to 39,347 at 9.54 a.m. EDT (1354GMT) after diving 2.6% on Monday and 1.51% on Friday. The blue-chip index rose 1.27% on Tuesday.

The S&P 500 rose 73 points, or 1.4%, to 5,314 at the time, after plummeting 3% the previous session and 1.84% at the end of last week. The index added 1.76% on Tuesday.

The Nasdaq, meanwhile, gained 282 points, or 1.72%, to 16,650 as the tech-heavy index took a nosedive of 3.43% on Monday and 2.43% on Friday. It rose 1.77% on Tuesday.

The VIX volatility index, also known as the fear index, plummeted 19.4% to 22.33 after jumping 59% to 37.20 on Monday, but falling 35% on Tuesday.

The 10-year US Treasury yield increased 1.4% to 3.939% after falling Monday to its lowest since July 2023.

The dollar index rose 0.3% to 103.27, while the euro lost 0.1% to $1.0920 against the greenback.

Precious metals were mixed, with gold adding 0.46% to $2,400 per ounce but silver falling 0.1% to $26.93.

Oil prices were up around 1.8%, with global benchmark Brent crude at $77.81 per barrel and US benchmark West Texas Intermediate at $74.59.