US stocks rally as indexes gain over 1%

By Ovunc Kutlu

ISTANBUL (AA) - US stocks rallied Monday as indexes gained more than 1% to close the first trading day of the week with gains.

The Dow Jones jumped 376 points, or 1.11%, to close at 34,245, while the S&P 500 added 46 points, or 1.14%, to 4,137.

The tech-heavy Nasdaq rose 173 points, or 1.48%, to finish the day at 11,891.

The VIX volatility index, also known as the fear index, fell 0.9% to 20.34. The 10-year US Treasury yield, meanwhile, fell 1% to 3.704%.

The dollar index was down 0.3% to 103.29, while the euro added 0.4% to $1.0724 against the greenback.

Precious metals were mixed with gold losing 0.6% to $1,853 an ounce but silver rising 0.1% to $21.99.

Crude oil prices were down more than 0.6% with global benchmark Brent crude at $85.84 per barrel and US benchmark West Texas Intermediate crude at $79.18 a barrel.