US stocks extend gains as market awaits consumer data

By Ovunc Kutlu​​​​​​​

ANKARA (AA) - US stocks opened Wednesday with an extension of gains from the previous session as the market waits for key consumer inflation data.

The Dow Jones added 250 points, or 0.71%, to the 1.06% it gained Tuesday, to reach 35,713 at 9.37 a.m. EDT.

The S&P 500 gained 0.84% in the previous session and rose another 47 points, or 1.06%, to 4,569.

The Nasdaq finished up 1.28% Tuesday and the tech-heavy index soared 200 points, or 1.41%, to 14,394 shortly after the opening bell.

US consumer prices in December were up 7% year-on-year, marking the highest annual increase in almost 40 years. The increase for January is expected to come in at 7.3%, according to market estimates.

The VIX volatility index was down 4.3% to 20.52, as the fear index finds strong support from the key level of 20.

The dollar index fell 0.15% to 95.50, and the yield on 10-year US Treasury notes decreased 0.93% to 1.938%.

Precious metals were mixed, with gold adding 0.16% to $1,828 per ounce but silver falling 0.03% to $23.18.

Crude oil prices partially recovered from a two-day loss. Brent crude was trading at $91.14 per barrel with a 0.4% gain, while US benchmark West Texas Intermediate was at $89.61, up 0.3%.