US stocks open higher despite trade deficit climbing to 6-month high

By Ovunc Kutlu

ISTANBUL (AA) - American stock exchanges opened higher Wednesday despite the US' trade deficit climbing to its highest level in six months.

The Dow Jones rose 91 points, or 0.27%, to 33,664 at 9.40 a.m. EDT. The S&P 500 added 13 points, or 0.31%, to 4,297.

The tech-heavy Nasdaq increased 73 points, or 0.55%, to 13,350.

The trade deficit soared $14 billion, or 23%, to $74.6 billion in April, the Commerce Department's Census Bureau said earlier.

While imports were $4.8 billion more than the previous month, exports fell $9.2 billion compared to March, it noted.

The VIX volatility index, also known as the fear index, fell 0.2% to 13.93. The 10-year US Treasury yield, meanwhile, rose 0.3% to 3.712%.

The dollar index fell 0.25% to 103.86, while the euro added 0.33% to $1.0728 against the greenback.

Precious metals were mixed, with gold losing 0.1% to $1,962 per ounce but silver rising 0.6% to $23.74.

Oil prices were up around 0.6%, with global benchmark Brent crude at $76.72 per barrel and US benchmark West Texas Intermediate at $72.20.