S&P marks worst record since December as US exchanges post weekly losses

By Ovunc Kutlu

ISTANBUL (AA) - S&P 500 marked its worst weekly record since December, as US stock exchanges closed mixed on Friday but posted weekly losses.

The index added almost 9 points, or 0.22%, to finish the day at 4,090 but it had a weekly loss of 1.1%.

The Dow rose 169 points, or 0.5%, to end Friday at 33,869. The blue-chip index declined 0.2% this week.

The Nasdaq declined 71 points, or 0.61%, to end the last trading day of the week at 11,718. The tech-heavy index had a weekly decline of 2.4%.

The VIX volatility index, also known as the fear index, was down 0.87% at 20.53, while the 10-year US Treasury yield rose 1.7% to 3.745%.

The dollar index added 0.36% to 103.58, while the euro shed 0.52% to $1.0680 against the greenback.

Precious metals in positive territory, with gold adding 0.15% to $1,864 per ounce and silver increasing 0.2% to $22.02.

Amid reports that Russia will lower oil output, crude prices were up more than 2.2% with global benchmark Brent crude at $86.50 and US benchmark West Texas Intermediate crude at $79.82 per barrel.

Moscow announced earlier Friday that it will voluntarily reduce its oil production by 500,000 barrels per day in March, which is equivalent to approximately 5% of its total output, pointing to the price ceiling policy, according to multiple reports.

G7 and EU member countries agreed in December on a $60 per barrel cap for Russian crude exports transported by sea, aiming to hit Moscow's revenues from oil exports and sales during Russia's war against Ukraine.