US stocks open Thursday mixed

By Ovunc Kutlu

ISTANBUL (AA) - US stocks opened mixed on Thursday, still trying to recover from Tuesday's major selloff when inflation figures coming above expectations fueled worries about the Federal Reserve's first rate cut this year.

The Dow Jones added 176 points, or 0.46%, to 38,606 at 9.50 a.m. EDT. The blue-chip index dove 1.35% on Tuesday to post its worst daily performance since last March.

The S&P 500 was up 12 points, or 0.24%, to 5,012. The index fell 1.37% on Tuesday.

The Nasdaq, on the other hand, was down four points to 15,854 at the time after the tech-heavy index plummeted 1.8% on Tuesday.

The major selloff on Tuesday was a result of US consumer inflation figures coming in higher than market expectations, which ignited fears that the Fed's first interest rate cut could be delayed to the second half of this year.

The VIX volatility index, also known as the fear index, fell 0.9% to 14.25. The 10-year US Treasury yield lost 1.2% to 4.214%.

The dollar index decreased 0.45% to 104.25, while the euro rose 0.45% to $1.0774 against the greenback.

Precious metals were in positive territory, with gold adding 0.6% to $2,004 per ounce and silver soaring 2.5% to $22.94.

Oil prices also showed gains, with global benchmark Brent crude adding 0.7% to $82.18 per barrel and US benchmark West Texas Intermediate crude increasing 0.8% to $77.22.