Nasdaq sees 4th weekly fall despite best record since March 11

By Ovunc Kutlu

ANKARA (AA) - Major indexes in the US stocks market closed Friday higher to bounce back from previous losses earlier in the week.

The Dow Jones was up 360 points, or 1%, to 34,382 with major investment banks Goldman Sachs and Morgan Stanley adding nearly 3% apiece.

The S&P 500 increased 1.5%, to 4,173 with Tesla soaring 3%. the Nasdaq added 304, or 2.3%, to 13,430 as Uber and Zoom Video jumped 6% each. The tech-heavy index recorded its best daily performance since March 11.

On a weekly basis, however, the Dow was down 1.1%, while the S&P 500 shed 1.4% and the Nasdaq lost 2.3% for a fourth consecutive weekly decline.

The indexes plummeted during the first three trading days of the week days after the World Health Organization said Monday it was reclassifying the triple-mutant coronavirus variant in India a concern, indicating it has become a global health threat, which caused worries among investors.

The VIX volatility index, however, managed to recover Friday to 20.12 level with a 13% decline. The yield on 10-year US Treasury bonds was also down 2.2% to 1.632%.