US stocks open Friday higher as key inflation cools


The US stock market opened higher on Friday as key inflation figures cooled down in May.

The Dow Jones rose 202 points, or 0.6%, to 34,323 at 9.45 a.m. EDT (1345GMT). The S&P 500 added 42 points, or 0.92%, to 4,437.

The Nasdaq increased 175 points, or 1.3%, to 13,766 at the time.

The core personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation indicator, rose 4.6% annually in May, down from a 4.7% year-on-year gain in April.

On a monthly basis, the index rose 0.3% in May, softening from a 0.4% monthly gain in April, according to the Commerce Department figures released earlier.

The VIX volatility index, also known as the fear index, fell 1% to 13.41. The 10-year US Treasury yield, meanwhile, shed 0.1% to 3.846%.

The dollar index trimmed 0.26% to 103.07, while the euro rose 0.44% to $1.0912 against the greenback.

Precious metals were mixed, with gold adding 0.2% to $1,912 per ounce but silver decreasing 0.4% to $22.48.

Oil prices were up around 0.5%, with global benchmark Brent crude at $74.91 per barrel and US benchmark West Texas Intermediate at $70.28.

Anadolu Agency website contains only a portion of the news stories offered to subscribers in the AA News Broadcasting System (HAS), and in summarized form. Please contact us for subscription options.

Source link