US stocks open higher as consumer inflation slows down

ISTANBUL

US stocks opened higher on Wednesday as consumer inflation in April slowed down both on annual and monthly basis.

The Dow Jones was up 224 points, or 0.57%, to 39,782 at 9.43 a.m. EDT (1343GMT). The S&P 500 rose by 30 points, or 0.57%, to 5,275.

The Nasdaq, meanwhile, increased 91 points, or 0.55%, to 16,602 at the time.

Consumer inflation in the US annually rose 3.4% in April, and monthly increased 0.3%, as both figures slowed down from March gains of 3.5% and 0.4%, respectively, according to the Labor Department figures released earlier.

The VIX volatility index, also known as the fear index, fell 2.4% to 13.19. The 10-year US Treasury yield lost 1.48% to 4.380%.

The dollar index shed 0.32% to 104.67, while the euro added 0.18% to $1.0839 against the greenback.

Precious metals were in the red, with gold losing 0.2% to $2,353 per ounce and silver decreasing 0.22% to $28.56.

Oil prices were down around 1.5% with global benchmark Brent crude at $81.18 per barrel and US benchmark West Texas Intermediate crude at $76.82.