US stock exchanges close Thursday with losses

By Ovunc Kutlu

ISTANBUL (AA) - Major US stock exchanges closed on a lower note Thursday after consumer inflation figures came in higher than market expectations.

The Dow Jones industrial average fell 58 points, or 0.14%, to end the day at 42,454. The S&P 500 was down almost 12 points, or 0.21% to 5,780.

The Nasdaq Composite, meanwhile, lost nine points, or 0.05%, to 18,282.

The consumer price index (CPI) rose 2.4% annually in September, higher than market estimates of a 2.3% increase, according to data released by the Labor Department's Bureau of Labor Statistics before the market opening.

On a monthly basis, CPI showed an increase of 0.2% in September and also came in higher than market expectations of a 0.1% gain.

Core CPI, which excludes volatile food and energy prices, gained 0.3% in September from the previous month, also coming in higher than market estimates of 0.2%. Annually, core CPI climbed 3.3% in September – higher than market expectations of 3.2%.

The VIX volatility index, referred to as the "fear index," added 0.1% to 20.88. The 10-year US Treasury yield rose 0.2% to 4.075%.

The US dollar index dropped 0.03% to 102.90, while the euro lost 0.03% against the dollar, trading at $1.0936.

Precious metals were in positive territory, with gold adding 0.9% to $2,630 per ounce and silver gaining 2.1% to $31.13 an ounce.

Oil prices soared around 3.7%, with global benchmark Brent crude at $79.42 per barrel and US benchmark West Texas Intermediate at $75.91 per barrel.