Dow, S&P post new records to recover from negative territory

By Ovunc Kutlu

ANKARA (AA) - Despite a weak opening to kick off the new week in negative territory, the US stock market’s Dow Jones and S&P 500 bounced back to end Monday near record-high levels.

After falling around 260 points, the blue-chip Dow was up 110, or 0.31%, to end the day at 35,625 after hitting a new all-time high of 35,631.19.

The S&P 500 lost 18 points after opening bell, but it closed the day up 11 points, or 0.26%, at 4,479 before posting a new record of 4,480.26.

The Nasdaq, however, was down 29, or 0.2%, at 14,793 at the final bell.

The recovery in the indices caused the VIX volatility index to lose some of its earlier gains, as the fear index ended the day with a 4.4% gain at 16.12.

The yield on 10-year US Treasury notes was down 2.5% at 1.265%, but the dollar index was up 0.1% at 92.62.

Precious metals also gained, adding 0.4%, with gold at $1,787 per ounce and silver at $23.86.

Oil prices, on the other hand, lost around 1.3% as Brent crude fell to $69.69 per barrel and West Texas Intermediate was at $67.22.

Despite strong gains in the crypto market in recent days, Bitcoin was down 1.7% at $45,850, while Ethereum lost 1.3% to $3,163 at 16.33 a.m. EDT.