US stocks open higher amid efforts to prevent another losing week

VIX volatility index down 2.1% with positive sentiment

Ovunc Kutlu   | 20.05.2022
US stocks open higher amid efforts to prevent another losing week


Major indices in the US stock market opened higher on Friday amid efforts to prevent another losing week.

The Dow Jones rose 211 points, or 0.68%, to 31,464 points as of 9.33 a.m. EDT (1333GMT). The S&P 500 added 37 points, or 0.97%, to start the day at 3,938.

The tech-heavy Nasdaq increased 137 points, or 1.2%, to start the last trading day of the week at 11,525.

Ride-hailing company Uber and communications firm Zoom Video saw their shares climbing more than 2% apiece at the opening bell.

With the positive sentiments, the VIX volatility index, known as the fear index, fell 2.1% to 28.74.

The dollar index, on the other hand, was up 0.23% to 102.96 and the 10-year US Treasury yield rose 0.13% to 2.859%.

Precious metals were down with the price of gold falling 0.03% to $1,841 and silver losing 0.33% to $21.86.

Crude oil prices were up almost 1%. Global oil benchmark Brent crude was trading at $112.96 for a 0.82% daily gain, while the US benchmark West Texas Intermediate (WTI) was at $110.80 -- a 0.84% increase.

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