US stocks jumps to recover from last week's losses

By Ovunc Kutlu

ANKARA (AA) - US stocks jumped Tuesday at the opening, en route to recovery from last week's losses.

The Dow Jones industrial average soared 348 points, or 1%, to 35,575. The blue-chip index lost 0.9% last week, its fourth weekly decline in a row.

The S&P 500 rose 68 points, or 1.5%, to 4,660 at 9.36 a.m. EDT after it declined 1.2% last week, posting its second consecutive weekly loss.

The Nasdaq saw the largest increase at the opening, gaining 321 points, or 2.1%, to 15,547. The tech-heavy index plummeted 2.6% last week.

Despite climbing above the critical 30 level twice last week, the VIX volatility index, known as the fear index, plummeted 13.6% to 23.49.

The dollar index was up 0.2% to 96.54, while the yield on 10-year US Treasury notes gained 1.9% to 1.461%.

Precious metals were up slightly, with gold adding 0.15% to $1,781 an ounce and silver increasing 0.24% to $22.44.

Crude prices were up almost 3%, with Brent crude trading at $74.88 per barrel and US benchmark West Texas Intermediate crude at $71.58.