May 07, 2024 (MENAFN via COMTEX) --
(MENAFN) Monday's trading session in the US opened on a positive note, with stock indices showing promising gains across the board. The Dow Jones Industrial Average, a key indicator of market performance, kicked off the day by surging 147 points, representing a 0.38 percent increase, and settling at 38,823 as of 9:36 a.m. EDT (1336GMT). Similarly, the broader S&P 500 index experienced a notable uptick, rising by 26 points, or 0.51 percent, to reach 5,153. The tech-heavy Nasdaq Composite Index also joined the upward trajectory, climbing 95 points, or 0.6 percent, to achieve a value of 16,251.
Investor sentiment, as reflected by the VIX volatility index, registered a modest increase of 1.2 percent, bringing the fear gauge to a level of 13.65. Meanwhile, the yield on the 10-year US Treasury note edged up by 0.04 percent to 4.501 percent, signaling slight movements in the bond market.
In the realm of currency markets, the dollar index saw a marginal decline of 0.08 percent, settling at 104.95, while the euro gained strength against the greenback, rising by 0.25 percent to USD1.0784.
Turning to commodities, precious metals experienced significant price movements during the trading session. Gold prices surged by 3.1 percent to reach USD2,331 per ounce, while silver prices saw an even more pronounced increase, jumping by 3.2 percent to USD27.40 per ounce.
In the energy sector, oil prices displayed a positive trend, with both global benchmark Brent crude and US benchmark West Texas Intermediate (WTI) crude recording gains. Brent crude rose by 0.78 percent to USD83.61 per barrel, while WTI crude gained 0.88 percent, reaching USD78.80 per barrel. These movements in oil prices hinted at ongoing optimism regarding global economic recovery and potential supply-demand dynamics in the oil market.
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COMTEX_452018919/2604/2024-05-07T12:14:50
