US stocks mixed despite consumer inflation posts slowest gain since March 2021

By Ovunc Kutlu

ISTANBUL (AA) - Major stock exchanges in the US opened Wednesday mixed despite consumer inflation in July posted its slowest annual gain since March 2021.

The Dow Jones was up 45 points, or 0.12%, to 39,811 at 9.43 a.m. EDT (1343GMT).

The S&P 500, on the other hand, lost four points, or 0.09%, to 5,429. The Nasdaq, meanwhile, decreased 54 points, or 0.33%, to 17,133.

Consumer inflation in the US annually rose 2.9% in July, slowing down from a year-on-year increase of 3% recorded in June. On a monthly basis, however, CPI showed an increase of 0.2% in July, accelerating from June when it recorded a monthly decline of 0.1%.

Core CPI, which excludes volatile food and energy prices, gained 0.2% in July from the previous month, also slightly gaining pace from the 0.1% increase in June. Annually, core CPI climbed 3.2% in July, marking the smallest annual increase since April 2021, and decelerating from a 3.3% year-on-year gain recorded in June.

The VIX volatility index, also known as the fear index, fell 3.5% to 17.48. The 10-year US Treasury yield fell 0.55% to 3.836%.

The US dollar index lost 0.12% to 102.42, while the euro rose 0.45% to $1.1042 against the greenback.

Precious metals were in negative territory, with gold losing 0.23% to $2,457 per ounce and silver down 0.14% to $27.80.

Oil prices were up around 0.2%, with global benchmark Brent crude at $80.85 per barrel and US benchmark West Texas Intermediate at $78.45.