S&P records best day since April as US stocks jump with slowing inflation

By Ovunc Kutlu

ISTANBUL (AA) - The S&P 500 recorded its best daily performance since April on Tuesday as US stocks jumped with slowing inflation.

The index increased 84 points, or 1.91%, to finish the day at 4,495. The Dow Jones Industrial Average meanwhile rose 489 points, or 1.43%, to close at 34,827.

The Nasdaq jumped 326 points, or 2.37%, to end the session at 14,094.

Annual consumer inflation in the US came in at 3.2% in October, slowing from a 3.7% gain in September, according to Labor Department figures released earlier.

On a monthly basis, the consumer price index in October remained virtually unchanged from the previous month, slowing down from a 0.4% increase in September.

The VIX volatility index, also known as the fear index, dove 4.1% to 14.16. The 10-year US Treasury yield lost 3.9% to 4.453%.

The dollar index lost 1.5% to 104.08, while the euro added 1.7% to $1.0878 against the greenback.

Precious metals were in positive territory, with gold rising 0.9% to $1,963 an ounce and silver increasing 3.5% to $23.09.

Oil prices were mostly flat, with global benchmark Brent crude at $82.45 per barrel and US benchmark West Texas Intermediate crude at $78.16.