Dow snaps 4-week losing streak, S&P records highest gain in 6 weeks

ISTANBUL

US stocks closed Friday with gains as the Dow Jones snapped its four-week losing streak, while the S&P 500 recorded its highest single-day gain in six weeks, after the 10-year US Treasury yield fell below the critical level of 4% that has been closely watched by investors.

The blue-chip Dow rose 387 points, or 1.17%, to end the day at almost 33,391 as it increased 1.75% this week.

The S&P 500 added 64 points, or 1.61%, to finish the session at 4,045. The index posted a weekly gain of 1.9%.

The Nasdaq soared 226 points, or 1.97%, to close at 11,689. The tech-heavy index rose 2.6% for the week.

The VIX volatility index, also known as the fear index, plummeted 5.6% to 18.49, and the 10-year US Treasury yield dove 2.9% to 3.956%.

The dollar index fell 0.5% to 104.54, while the euro climbed 0.35% to $1.0633 against the greenback.

Precious metals were up over 1%. Price of gold rose 1.1% to $1,855 per ounce and silver increasing 1.5% to $21.22.

Oil prices were up more than 1.3%, with global benchmark Brent crude at $85.88 per barrel and US benchmark West Texas Intermediate at $79.78.