US stocks close with gains as producer inflation slows down

By Ovunc Kutlu

ANKARA (AA) - US stocks closed with gains on Tuesday as annual producer inflation slowed down.

The Dow Jones rose 56 points, or 0.17%, to close at 33,592, while the S&P 500 added 34 points, or 0.87%, to 3,991.

The Nasdaq increased 162 points, or 1.45%, to finish at 11,258.

Annual US producer inflation rose 8% in October, according to Labor Department figures released earlier, slowing down from September's 8.4% increase.

The VIX volatility index, also known as the fear index, increased 2% to 24.22. The 10-year US Treasury yield lost 2.2% to 3.781%.

The dollar index lost 0.2% to 106.48, still around its highest in 20 years, while the euro rose 0.3% to $1.0356 against the greenback.

Precious metals were mixed, with gold adding 0.5% to $1,779 per ounce but silver losing 1.8% to $21.6.

Oil prices were up with global benchmark Brent crude trading at $93.82 per barrel for a gain of 0.7%. US benchmark West Texas Intermediate crude was around $86.92 – up 1.2%.