US stocks extend gains as market awaits consumer data

ANKARA

US stocks opened Wednesday with an extension of gains from the previous session as the market waits for key consumer inflation data.

The Dow Jones added 250 points, or 0.71%, to the 1.06% it gained Tuesday, to reach 35,713 at 9.37 a.m. EDT.

The S&P 500 gained 0.84% in the previous session and rose another 47 points, or 1.06%, to 4,569.

The Nasdaq finished up 1.28% Tuesday and the tech-heavy index soared 200 points, or 1.41%, to 14,394 shortly after the opening bell.

US consumer prices in December were up 7% year-on-year, marking the highest annual increase in almost 40 years. The increase for January is expected to come in at 7.3%, according to market estimates.

The VIX volatility index was down 4.3% to 20.52, as the fear index finds strong support from the key level of 20.

The dollar index fell 0.15% to 95.50, and the yield on 10-year US Treasury notes decreased 0.93% to 1.938%.

Precious metals were mixed, with gold adding 0.16% to $1,828 per ounce but silver falling 0.03% to $23.18.

Crude oil prices partially recovered from a two-day loss. Brent crude was trading at $91.14 per barrel with a 0.4% gain, while US benchmark West Texas Intermediate was at $89.61, up 0.3%.