US stocks mixed to kick off busy week of inflation, Fed meeting

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened Monday mixed as exchanges kicked off a busy week filled with inflation figures and the Federal Reserve's last 2023 meeting.

The Dow Jones was up 71 points, or 0.2%, to 36,319 at 9.38 a.m. EDT. The S&P 500, however, was flat by trimming just one point, or 0.01%, to 4,604.

The Nasdaq, on the other hand, decreased 33 points, or 0.23%, to 14,370.

US consumer and producer inflation figures will be released before market opening on Tuesday and Wednesday, respectively, while the Fed's last two-day meeting of 2023 will conclude on Wednesday at 2.00 p.m. EDT.

The central bank is widely expected to hold its benchmark interest rate unchanged at the 5.25%-5.5% target range – the highest in 22 years.

The VIX volatility index, also known as the fear index, jumped 5.3 % to 13.01 at the time. The 10-year US Treasury yield rose 0.45% to 4.266%.

The dollar index increased 0.16% to 104.18, while the euro shed 0.05% to $1.0756 against the greenback.

Precious metals were in negative territory, with gold losing 0.7% to $1,989 per ounce and silver trimming 0.5% to $22.89.

Oil prices lost around 0.1%, with global benchmark Brent crude at $75.78 per barrel and US benchmark West Texas Intermediate crude at $71.22.