US stock market opens higher to recover from 3-day loss

US stock market opens higher to recover from 3-day loss

VIX volatility index ends rising streak by falling 5.1%

By Ovunc Kutlu

ANKARA (AA) - US stock market opened higher on Friday, trying to recover from their three consecutive days of losses amid the Federal Reserve signaling it will soon begin to taper its monthly asset purchase program.

The Dow Jones Industrial Average was up 36 points, or 0.1%, at 34,930 at 9.40 a.m. EDT, while the S&P 500 rose 8 points, or 0.8%, to 4,414.

The Nasdaq increased 53, or 0.37%, to 14,594. Microsoft stock price reached an all-time high of $330.45 per share.

Oil majors, however, were dragging the Dow, with ExxonMobil and Chevron losing 0.7% and 0.6%, respectively, while ConocoPhillips fell 0.9% as oil prices continued to decline, losing 1.2%.

Brent crude was at $65.66 per barrel and West Texas Intermediate fell to $62.73.

After four consecutive days of increase, VIX volatility index, known as the fear index, plummeted 5.1% to 20.57. The yield on 10-year US Treasury notes, fell 0.16% to 1.240%.

The dollar index, on the other hand, slightly increased to 93.58.

Precious metals were mixed as gold rose 0.2% to $1,783 per ounce, but silver lost 0.3% to $23.18.

The Fed minutes released Wednesday showed that officials discussed the $120 billion monthly asset purchase program, and the central bank could begin as early as this year to reduce accumulating new assets on its balance sheet in a process known as tapering.

Kaynak:Source of News

This news has been read 141 times in total

ADD A COMMENT to TO THE NEWS
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
Previous and Next News