US stock market closes higher despite early losses

By Ovunc Kutlu

ANKARA (AA) - Major indices in the US stock market closed higher on Monday despite earlier losses shortly after the opening bell.

The Dow Jones industrial average was up 94 points, or 0.27%, to close at 34,955.

The S&P 500 rose 32 points, or 0.71%, to end at 4,575.

The tech-heavy Nasdaq soared 185 points, or 1.31%, to finish at 14,354.

The VIX volatility index, known as the fear index, was down more than 6% to 19.55.

The yield on 10-year US Treasury notes fell 1.46% to 2.457%.

The dollar index, on the other hand, rose 0.35% to 99.14.

Precious metals were on the decline, with gold falling 1.9% to $1,921 per ounce and silver losing 2.6% to $24.86.

Crude oil prices plummeted more than 9% for the day.

Global oil benchmark Brent crude was trading at $106.70, down 9.1%, while the US benchmark West Texas Intermediate (WTI) was at $103.39 with over a 9.2% loss.