US stocks close with slight gains after worst week of 2023

By Ovunc Kutlu

ISTANBUL (AA) – US stock exchanges closed Monday with slight gains after the worst week of 2023.

The Dow Jones rose 72 points, or 0.22%, to finish the day at 33,889. The blue-chip index posted its fourth consecutive weekly loss on Friday with a 3% fall.

The S&P 500 added 12 points, or 0.31%, to end the session at 3,982 after it closed Friday for a weekly loss of 2.7%. It had been the worst week for the index since Dec. 9.

The Nasdaq increased 72 points, or 0.63%, to 11,466. The tech-heavy index had a weekly decline of 3.3% last week.

The indexes plummeted on Friday after the US Federal Reserve's preferred inflation indicator disappointed investors, coming lower than market expectations.

The VIX volatility index, also known as the fear index, was down 3.4% at 20.94, while the 10-year US Treasury yield lost 0.7% to 3.920%.

The dollar index fell 0.5% to 104.66, while the euro added 0.6% to $1.0608 against the greenback.

Precious metals were mixed, with gold rising 0.3% to $1,817 per ounce but silver decreasing 0.8% to $20.59.

Oil prices were down around 1%, with global benchmark Brent crude at $82.09 per barrel and US benchmark West Texas Intermediate at $75.78.