US stocks higher before Fed Chair Powell's speech

ISTANBUL

Major US stock exchanges opened higher Friday ahead of Federal Reserve Chair Jerome Powell's speech.

The Dow Jones Industrial Average increased 155 points, or 0.38%, to 40,868 at 9.50 a.m. EDT (1350GMT).

The S&P 500 added 36 points, or 0.66%, reaching 5,606. The Nasdaq Composite rose almost 178 points, or 1%, to 17,797.

The VIX volatility index, referred to as the "fear index," fell 3% to 17.02. The 10-year US Treasury yield lost 0.3% to 3.850%.

The US dollar index was unchanged at 101.51, while the euro was steady against the dollar at $1.1108.

Precious metals were in positive territory, with gold rising 0.54% to $2,498 per ounce and silver adding 1% to $29.27 per ounce.

Oil prices were up around 1.6% with global benchmark Brent crude at $78.39 per barrel and US benchmark West Texas Intermediate at $74.31 per barrel.

Investors are now focused on Powell's speech that will start at 10.00 a.m. EDT (1400GMT) at the annual Jackson Hole symposium in the US state of Wyoming.