US stocks shake off early losses to end higher

By Gokhan Ergocun

ISTANBUL (AA) - Major US stock indexes shook off early morning losses due to the retail sector to close higher Tuesday.

Target issued a profit warning and said it planned to cut down on inventory by offering steep discounts and cancelling orders. The move affected the overall retail sector, sending shares of Walmart and Amazon lower.

But the market managed to claw back the losses to end with gains.

The Dow Jones rose 264.36 points, or 0.80%, to close at 33,180.14.

The S&P 500 added 39.25 points, or 0.95%, to end the day at 4,160.68.

The Nasdaq was up by 113.86 points, or 0.94%, to finish at 12,175.23.

The VIX volatility index, also known as the fear index, was down 4.19% at 24.02.

The dollar index dropped 0.09% to 102.35 and the 10-year US Treasury yield fell 1.94% to 2.979%.

Precious metals ended on the positive side, with gold gaining 0.6% to $1,854.47 an ounce and silver up by 0.67% at $22.23.

Crude prices were up around 3%. Global benchmark Brent crude was trading at $120.91 a barrel for a 0.08% gain, while US benchmark West Texas Intermediate crude was at $120.58 -- a 0.21% increase.