US stock market opens mixed, Nasdaq hits record

By Ovunc Kutlu

ANKARA (AA) - Major indexes in the US stock market opened mixed on Monday as investors await key inflation figures that will be released later this week.

The Dow Jones fell 86 points, or 0.25%, to 34,784 at 9.34 a.m. EDT (1334 GMT) with investment banking majors JPMorgan and Goldman Sachs losing around 0.6% each.

The S&P 500 was down 2 points to 4,367 after it closed Friday at a new record high level of 4,369.

The Nasdaq, on the other hand, was up 33 points, or 0.2%, to 14,735 at the time, shortly after it hit a fresh all-time high of 14,761 at the opening bell.

The dollar index was up 0.16% to 92.27, and the VIX volatility index, known as the fear index, rose 3.1% to 16.69.

The yield on the 10-year US Treasury notes, however, declined 0.5% to 1.349%.

After seven consecutive trading days of increase, gold fell 0.5% at $1,798 per ounce, failing to find support at the psychological $1,800 level. Silver was also down 0.2% to barely hold on the critical level of $26 an ounce.

Investors will closely watch the consumer price index (CPI) to be announced on Tuesday and producer price index (PPI) that will be released on Wednesday before market openings.

The June data for CPI and PPI will also be closely monitored by the Federal Reserve for rising inflation in the world's largest economy and the central bank's interest rate decisions.