By Ovunc Kutlu
ISTANBUL (AA) - Major stock exchanges in the US opened with gains Thursday, despite the Federal Reserve signaling that an interest rate cut in March is unlikely.
The Dow Jones rose 86 points, or 0.23%, to 38,236 at 9.52 a.m. EDT (1452GMT). The S&P 500 rose 22 points, or 0.45%, to 4,867.
The tech-heavy Nasdaq increased 107 points, or 0.71%, to 15,271.
The Fed kept its federal funds rate unchanged Wednesday, as expected, between the 5.25% - 5.5% target range -- the highest in 23 years.
Fed Chair Jerome Powel said in a post-meeting news conference that it is unlikely the Federal Open Market Committee would reach "a level of confidence" by the time of the March meeting to start lowering interest rates.
The VIX volatility index, also known as the fear index, fell 2.3% to 14.02. The 10-year US Treasury yield shed 2.3% to 3.873%.
The dollar index increased 0.2% to 103.49, while the euro rose 0.12% to $1.0829 against the greenback.
Precious metals were on the rise, with gold adding 0.5% to $2,050 per ounce and silver increasing 0.1% to $22.97.
Oil prices were in positive territory, with global benchmark Brent crude rising 0.7% to $81.10 per barrel, and US benchmark West Texas Intermediate crude adding 0.7% to $76.45.