S&P 500 hits new record, posts best weekly gain since February

By Ovunc Kutlu

ANKARA (AA) - S&P 500 posted its best weekly gain since February as major indexes in the US stock market closed Friday with strong weekly gains.

S&P 500 increased 14 points, or 0.3%, to close at 4,280 before hitting a new record high level of 4,286 points. The index posted a 2.7% gain for the week.

The Dow Jones rose 237 points, or 0.7%, to 34,433. The blue-chip index added 3.4% this week.

The Nasdaq, on the other hand, fell 9 points to 14,360, but the tech-heavy index increased 2.4% for the week.

Technology companies' shares were on the rise with Netflix and Uber adding 1.7% each.

The dollar index was flat at 91.78, while the VIX volatility index was down 2.2% to 15.62.

The yield on the 10-year US Treasury, however, was up by 2.6% to 1.526%.

Precious metals have continued their increase as gold was up 0.3% to $1,780 per ounce and silver added 0.6% to $26.1.

Price of Brent crude was at $76.07 per barrel with a 0.7% daily gain. US' West Texas Intermediate was at $73.94 with a 0.9% increase.