US stocks open higher despite rising dollar index

 US stocks opened higher on Friday to kick off the last trading day of May in a positive note despite rising US dollar index.

The Dow Jones added 114 points, or 0.3%, to 34,578 at 9.43 a.m. EDT (1343GMT) with Microsoft adding 1.1%. The SP 500 rose 11 points to 4,211 as Tesla gained 0.5%.

The Nasdaq increased 70 points, or 0.5%, to 13,806 with AMC Entertainment and Blackberry soaring 23% and 9.7%, respectively.

The VIX volatility index was down for a fifth consecutive day by 1.8% to 16.44. The yield on 10-year US Treasury also fell 0.9% to 1.596%.

The dollar index, which shows the strength of the greenback against a basket of six other major currencies, however, showed a significant increase of 0.3% to 90.27 level.

Bitcoin continued its volatile trading by shaving more than 7% to dive below $37,000. Ethereum lost over 8% to $2,590.

Gold has resumed its rally by adding 0.1% to $1,898, but silver still remained weak by losing 0.4% at 27.72.

Article source: https://nation.com.pk/29-May-2021/us-stocks-open-higher-despite-rising-dollar-index