US stocks open higher as producer inflation softens

ISTANBUL

US stocks opened higher on Thursday as the annual producer inflation figure showed a softening.

The Dow Jones rose 10 points, or 0.03%, to 33,657 at 9.41 a.m. EDT. The S&P 500, on the other hand, added 11 points, or 0.28%, to 4,104.

The tech-heavy Nasdaq increased 106 points, or 0.89%, to 12,036.

US annual producer inflation significantly eased to 2.7% in March, according to Labor Department data released earlier. The figure marks a sharp slowing from February's annual gain of 4.9%. On a monthly basis, it fell 0.5% in March.

The VIX volatility index, also known as the fear index, fell 2.2% to 18.67. Meanwhile, the 10-year US Treasury yield shed 1.3% to 3.376%.

The dollar index trimmed 0.57% to 100.92, while the euro gained 0.7% to $1.1065 against the greenback.

Precious metals were on the rise with gold rising 1.3% to $2,041 per ounce and silver adding 1.4% to $25.94.

Oil prices decreased around 0.5%, with global benchmark Brent crude at $86.88 per barrel and US benchmark West Texas Intermediate crude at $82.89.