S&P 500 Reaches Yearly High as US Stocks Close with Gains

(MENAFN) The S&P 500 index concluded Thursday's trading session at its highest level this year, as US Stocks experienced gains. The stock exchange rose by 26 points, or 0.62 percent, to finish the day at 4,293.93 points. Earlier in the week, on Monday, the index had reached its peak for the year, hitting 4,299.28 points during trading hours. However, it failed to sustain that level and closed the day with a 0.2 percent loss.

The Dow Jones Industrial Average, composed of blue-chip stocks, saw an increase of 168 points, or 0.5 percent, ending the session at 33,833. Meanwhile, the tech-heavy nasdaq composite index surged by 133 points, or 1.02 percent, closing at 13,238.

Market volatility, as measured by the VIX volatility index, decreased by 2.1 percent to 13.65, indicating a reduction in investor fear. Simultaneously, the yield on the 10-year US Treasury note dropped by 1.9 percent to 3.717 percent.

In the currency markets, the dollar index declined by 0.7 percent to 103.33, while the euro gained 0.8 percent against the greenback, reaching USD1.0782.

Precious metals displayed strong gains, with gold surging by 1.3 percent to USD1,965 per ounce and silver skyrocketing by 3.6 percent to USD24.28.

However, oil prices experienced extended losses, with a decline of approximately 2 percent. The global benchmark Brent crude was priced at USD75.53 per barrel, while the US benchmark West Texas Intermediate stood at USD70.92.

Overall, the market demonstrated positive momentum as US stocks recorded gains, reaching new highs for the year.



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