US stocks open mixed with disappointing retail figures

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened mixed on Friday as the retail sales figures in March disappointed investors.

The Dow Jones rose 25 points, or 0.8%, to 34,025 at 9.37 a.m. EDT. The S&P 500 added six points, or 0.15%, to 4,152.

The tech-heavy Nasdaq, on the other hand, decreased seven points, or 0.5%, to 12,158.

US retail sales fell 1% in March, more than market estimates of a 0.4% decline, according to advance figures released earlier by the Commerce Department.

On an annual basis, retail sales were up 2.9% in March, compared to the same month of 2023.

The annual gain, however, is a sharp slowdown from the 5.4% year-on-year increase in February, which was revised up to a 5.9% gain.

The VIX volatility index, also known as the fear index, fell 0.8% to 17.66. Meanwhile, the 10-year US Treasury yield rose 1.3% to 3.498%.

The dollar index added 0.26% to 101.25, while the euro lost 0.17% to $1.1025 against the greenback.

Precious metals were mixed with gold trimming 0.7% to $2,026 per ounce, but silver added 0.4% to $25.93.

Oil prices increased around 0.7%, with global benchmark Brent crude at $86.61 per barrel and US benchmark West Texas Intermediate crude at $82.80.