US exchanges finish Friday’s session higher after Trump’s election win
Date
11/10/2024 6:50:37 AM
(MENAFN) US Stocks finished in the positive territory on Friday, marking a strong close for the week following Donald Trump's victory in the presidential election. The Dow Jones industrial average gained 259.65 points, or 0.59 percent, closing at 43,988.99. The index experienced a notable 4.61 percent increase over the course of the week, reflecting investor optimism. The S&P 500 also posted a solid gain, adding 22.44 points, or 0.38 percent, to reach 5,995.54, with a weekly gain of 4.66 percent. The Nasdaq, meanwhile, rose 17.32 points, or 0.09 percent, ending at 19,286.78, and showed a weekly gain of 5.74 percent.
In addition to the strong stock performance, the VIX volatility index, also known as the "fear index," decreased by 1.71 percent to 14.94, indicating reduced market uncertainty. Meanwhile, the US dollar index saw an uptick, rising 0.44 percent to 104.8, while the EUR/USD exchange rate dropped by 0.8 percent, reflecting the dollar's strength against the euro.
However, precious metals ended the day on a negative note. Gold saw a decline of 0.82 percent, trading around USD2,683.3 per ounce, and silver fell by 2.32 percent, reaching USD31.29 per ounce. The pullback in metals mirrored broader market trends and investor sentiment.
Oil prices also faced a dip, with global benchmark Brent crude dropping by 2.08 percent, ending the day at USD73.80 per barrel. Despite the weekly gains in equities, commodities such as precious metals and oil experienced pressure, reflecting mixed sentiment across different asset classes.
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