US stocks mixed after producer inflation figures

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened mixed on Thursday after producer inflation in March came below market expectations, but accelerated on an annual basis.

The Dow Jones was down 66 points, or 0.17%, to 38,394 at 9.50 a.m. EDT (1350GMT). The S&P 500, on the other hand, remained unchanged at 5,160.

The Nasdaq, however, gained 58 points, or 0.36%, to 16,228.

US producer inflation in March rose 2.1% annually, slightly below the market expectation of 2.2%. The figure, however, was recorded as the largest advance since rising 2.3% in April 2023, and it paced up from February when it showed a year-on-year increase of 1.6%.

The VIX volatility index, also known as the fear index, rose 1.8% to 16.08. The 10-year US Treasury yield fell 0.3% to 4.546%.

The US dollar index decreased 0.05% to 105.19, while the euro declined 0.07% to $1.0734 against the greenback.

Precious metals were on the rise again, with gold adding 0.53% to $2,346 per ounce and silver increasing 0.9% to $28.17.

Oil prices were down around 0.7% with global benchmark Brent crude at $89.88 per barrel and US benchmark West Texas intermediate at $85.48.