US stocks open higher with decline in volatility

By Ovunc Kutlu

ANKARA (AA) - Major US stock indexes opened higher Friday to overcome losses in previous session as high volatility has shown some decline.

The Dow Jones was up 40 points, or 0.1%, to 31,531 at 9.40 a.m. EDT (1440GMT), while the S&P 500 rose 8 points, or 0.2%, to 3,922.

The Nasdaq increased 62 points, or 0.4%, to 13,928 with Twitter, Moderna and Airbnb each gaining more than 2%.

After increasing for three consecutive days, the VIX volatility index, also known as the fear index, was down on Friday by 1.3% to 22.19. The index rose 12.6% in last three days.

Novavax shares jumped 8.9% amid announcement Thursday after market close that it made an agreement with Gavi, the Vaccine Alliance, to supply 1.1 billion doses to global initiative COVID-19 Vaccines Global Access (COVAX).

The American biotech firm announced on Jan. 29 that its vaccine has over 89% efficacy against COVID-19, and also has significant efficacy against both the South Africa and the UK variants that are spreading around the world rapidly.

Uber shares fell 1.2% right after first bell after the ride-hailing company saw earlier Friday a ruling against itself in the UK -- its biggest European market where it has around 45,000 drivers in London alone.

The decision orders Uber to classify its drivers as workers who are entitled to certain rights like minimum wage, rest breaks and pay during holidays.