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Saturday, Jul 24, 2021

US stock indexes try to recover, volatility on decline

US stock indexes try to recover, volatility on decline

VIX volatility index sheds 6.7% shortly after opening bell - Anadolu Agency

Major US stock indexes opened mixed Friday trying to recover from previous losses and high volatility showed some decline.

The Dow Jones was down 113 points to 31,288 at 9.45 a.m. EDT (1445GMT), while the S&P 500 added 15 points to 3,844 with Tesla gaining 1.3%.

The Nasdaq jumped 160 points, or 1.2%, to 13,278 as GameStop saw its shares soar 30%, while Airbnb and AMC Entertainment rose 7% each.

The 10-year US Treasury yield, which increased continuously in recent weeks, was down 2.7%% to 1.474% after the opening bell. The yield on Thursday hit its highest level since February 2020.

The VIX volatility index was also on decline from its recent highs by shedding 6.7% to 26.95, easing some of the fears of investors amid global economic recovery.

Precious metals, on the other hand, have been struggling to recover. Gold was around $1,750 per ounce with a 1.5% loss and silver was down 2.6% to $26.7.

The recent rally in oil prices was halted for the second consecutive day, as Brent crude was at $65.5 per barrel with a 1% decline and US' West Texas Intermediate at $62.6, down 1.4%.

Despite finding support above the $51,000 mark on Thursday, Bitcoin was down 4.5% at $47,000 after market opening as loss in cryptocurrencies varied between 1% to 12%.

Source: CVOL

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