Tuesday, May 14, 2024
Year : 2, Issue : 20
US stocks opened higher on Tuesday despite producer prices in April picking up pace and coming above market estimates.
The Dow Jones was up 41 points, or 0.11%, to 39,472 at 9.59 a.m. EDT (1359GMT). The S&P 500 rose by four points, or 0.08%, to 5,225.
The Nasdaq, meanwhile, increased 20 points, or 0.12%, to 16,408 at the time.
US producer inflation in April rose 2.2% annually and 0.5% on a monthly basis, as both figures came above the market estimates, according to the Labor Department figures released earlier.
The annual and monthly figures were expected to come in at 2.1% and 0.3%, respectively, according to the market estimates.
The VIX volatility index, also known as the fear index, rose 1.4% to 13.79. The 10-year US Treasury yield lost 0.54% to 4.457%.
The dollar index shed 0.16% to 105.05, while the euro added 0.3% to $1.0819 against the greenback.
Precious metals were in the green, with gold rising 0.82% to $2,355 per ounce and silver increasing 1.8% to $28.71.
Oil prices were down around 0.45% with global benchmark Brent crude at $83.03 per barrel and US benchmark West Texas Intermediate crude at $78.72.
Source: Anadolu Agency
