US stocks open with gains despite rising inflation

By Ovunc Kutlu

ISTANBUL (AA) – US stocks opened with gains on Thursday despite rising consumer inflation.

The Dow Jones added 34 points, or 0.1%, to reach 37,730 at 9.36 a.m. EDT. The S&P 500 rose 15 points, or 0.31%, to stand at 4,797.

The tech-heavy Nasdaq increased 82 points, or 0.56%, to hit 15,050.

Annual consumer inflation in the US came in at 3.4% in December, rising from a 3.1% gain in November, the Labor Department announced earlier.

The VIX volatility index, also known as the fear index, was down 1.2% to 12.54. The 10-year US Treasury yield fell 0.33% to 4.022%.

The dollar index increased 0.1% to 102.46, while the euro fell 0.1% to $1.0962 against the greenback.

Precious metals were in positive territory, with gold rising 0.4% to $2,044 per ounce and silver adding 0.3% to $22.97.

Oil prices were also on the rise, with global benchmark Brent crude increasing 1.8% to $78.22 per barrel, and US benchmark West Texas Intermediate crude rising 1.9% to $72.76 a barrel.