US stocks end slightly higher as inflation comes in as expected

By Ovunc Kutlu

ANKARA (AA) - Major US stock indexes closed slightly higher Wednesday as inflation figures did not surprise and were in line with market expectations.

Consumer prices in December rose 7% year-on-year, marking the largest 12-month gain since June 1982, Department of Labor data showed earlier.

The Dow Jones Industrial Average was up 38 points, or 0.11%, to close at 36,290. The S&P 500 gained 13 points, or 0.28%, to 4,726.

The Nasdaq increased 34 points, or 0.23%, to end the day at 15,188.

The VIX volatility index, known as the fear index, fell 4.4% to 17.60.

The dollar index lost 0.72% to 94.94, while the yield on 10-year US Treasury notes declined 0.6% to 1.736%.

Precious metals were up, with gold rising 0.3% to $1,827 per ounce and silver increasing 1.8% to $23.23.

Crude prices rose more than 1%, with Brent crude trading at $84.73 per barrel and US benchmark West Texas Intermediate crude at $82.78.