US stocks open higher despite inflation jump almost 40-year high

By Ovunc Kutlu

ANKARA (AA) - Major indices in the US stock market opened higher on Friday despite consumer prices rising 6.8% in November on an annual basis, its largest 12-month increase since June 1982.

The Dow Jones industrial average was up 183 points, or 0.51%, to 35,940. The S&P 500 gained 37 points, or 0.81%, to 4,704.

The Nasdaq increased 154 points, or 1%, to 15,670.

The VIX volatility index, known as the fear index, was down 10.3% to 19.36.

The dollar index was flat at 96.28, and the yield on 10-year US Treasury notes fell 0.8% to 1.475%.

Precious metals were up, with gold adding 0.27% to $1,780 per ounce and silver rising 0.7% to $22.11.

Crude prices increased almost 1% with Brent crude trading at $75 per barrel and US benchmark West Texas Intermediate crude at $71.66.