US stocks close higher as tech shares drive gains

By Tuba Sahin

ANKARA (AA) – Major US stock indexes closed higher Monday, led by a rally in tech shares.

The Dow Jones Industrial Average posted a hike of 103.6 points, or 0.30%, to 34,921 at the close. The S&P 500 rose 36.78 points, or 0.81%, to end at 4,582.

The Nasdaq surged 271 points, or 1.90%, to finish the day at 14,532 thanks to a rally in tech shares triggered by Twitter.

Twitter shares registered their largest one-day gain, surging 28% after the company disclosed that Tesla CEO Elon Musk had taken a 9.2% stake in the company.

The VIX volatility index, known as the fear index, plummeted 5.4% to 18.57. The dollar index was up 0.34% at 98.97.

Precious metals were mixed, with gold gaining 0.47% to $1,932 per ounce and silver slipping 0.17% to $24.61.

Oil prices rose Monday as the Russia-Ukraine war continues to strain global oil markets, which were already seeing heightened price volatility.

Global benchmark Brent crude was trading at $108.03 per barrel, soaring 3.49%, while US benchmark West Texas Intermediate (WTI) crude was at $103.73 -- a 4.49% surge