US stock market closes higher despite early losses

ANKARA

Major indices in the US stock market closed higher on Monday despite earlier losses shortly after the opening bell.

The Dow Jones industrial average was up 94 points, or 0.27%, to close at 34,955.

The S&P 500 rose 32 points, or 0.71%, to end at 4,575.

The tech-heavy Nasdaq soared 185 points, or 1.31%, to finish at 14,354.

The VIX volatility index, known as the fear index, was down more than 6% to 19.55.

The yield on 10-year US Treasury notes fell 1.46% to 2.457%.

The dollar index, on the other hand, rose 0.35% to 99.14.

Precious metals were on the decline, with gold falling 1.9% to $1,921 per ounce and silver losing 2.6% to $24.86.

Crude oil prices plummeted more than 9% for the day.

Global oil benchmark Brent crude was trading at $106.70, down 9.1%, while the US benchmark West Texas Intermediate (WTI) was at $103.39 with over a 9.2% loss.