Economy

US stocks close with gains to start 2nd half on higher note

S&P 500 rises over 1% after posting worst half since 1970, VIX volatility index dives 7%

Övünç Kutlu   | 01.07.2022
US stocks close with gains to start 2nd half on higher note

ANKARA

The US stock market closed with gains on Friday to begin the second half of the year on a higher note after indices posted major losses in the first half. 

The Dow Jones jumped 321 points, or 1.05% to close at 31,097. The blue-chip index lost 15.3% in the January-June period of this year.

The S&P rose almost 40 points, or 1.06%, to end the day at 3,825, after diving 20% in the first six months of the year and posting its worst half since 1970.

The Nasdaq increased 99 points, or 0.9%, to 11,127. The tech-heavy index plummeted 29.5% in the first half.

The VIX volatility index, also known as the fear index, dove 7% to 26.70. The 10-year US Treasury yield fell 2.8% to 2.889%.

The dollar index, on the other hand, rose 0.42% to 105.13.

Precious metals were mixed with gold adding less than 0.1% to $1,807, but silver falling 2% to $19.87.

Crude prices were up more than 2%. Global oil benchmark Brent crude was trading at $111.43 for a 2.2% gain, while US benchmark West Texas Intermediate (WTI) was at $108.40 – up 2.5%.

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