US stocks jump at opening as investors await earnings

By Ovunc Kutlu

ANKARA (AA) - Major indices on the US stock market jumped at the opening on Monday, as investors await key financial results from American companies' earnings for the third quarter of this year.

The Dow Jones rose 538 points, or 1.86%, to open at 30,102 at 9.55 a.m (1355GMT). The S&P 500 added 90 points, or 2.53%, to 3,673.

The Nasdaq soared 321 points, or 3.12%, to 10,643. The tech-heavy index last week fell to its lowest level in two years as 40-year high persistent inflation triggered fears that the Federal Reserve would continue its rate hikes.

The VIX volatility index, also known as the fear index, was down 1.6% to 31.51. The 10-year US Treasury yield fell 1.7% to 3.936%.

The dollar index lost 0.77% to 112.44, still around its highest in 20 years, while the euro rose 0.64% to $0.9781 against the greenback.

Precious metals were on the rise, with gold adding 1.26% to $1,664 and silver increasing 2.7% to $18.76.

Oil prices were also in positive territory. Global oil benchmark Brent crude was trading at $92.58 per barrel for a 1.05% increase. US benchmark West Texas Intermediate was around $85.48 – up 1%.