S&P 500 climbs to highest level in 10 months, posts 4th weekly gain

By Ovunc Kutlu

ISTANBUL (AA) - The S&P 500 on Friday surged to a new record high for 2023 and climbed to its highest level in 10 months.

During trading hours, it hit 4,322.62 points, which was the highest since Aug. 16, 2022 when it touched 4,325.28 points, according to official data.

The stock exchange was up almost five points, or 0.11%, to close Friday at 4,298. For the week, it was up 0.39%, and posted its 4th weekly gain.

The Dow Jones rose 43 points, or 0.13%, to finish at 33,876. The blue-chip index increased 0.34% this week.

The Nasdaq increased 20 points, or 0.16%, to end the day at 13,259. The tech-heavy index gained 0.14% for the week, recording its seventh consecutive weekly gain. This is the longest weekly winning streak for the index since November 2019.

The VIX volatility index, also known as the fear index, added 1.3% to 13.83. The 10-year US Treasury yield, meanwhile, gained 0.9% to 3.744%.

The dollar index increased 0.23% to 103.58, while the euro shed 0.35% to $1.0747 against the greenback.

Precious metals were mixed, with gold trimming 0.25% to $1,963 per ounce but silver rising 0.05% to $24.28.

Oil prices lost around 1.3%, with global benchmark Brent crude at $74.98 per barrel and US benchmark West Texas Intermediate at $70.39.