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US stocks mixed as producer prices soar to record level

US stocks mixed as producer prices soar to record level
Precious metals reverse course, gold loses 0.7%, silver falls 2.2%

By Ovunc Kutlu

ANKARA (AA) - US stocks opened mixed as producer prices soared to a record level Tuesday

The Dow Jones industrial average was up 40 points, or 0.11%, to 35,691 at 9.48 a.m. EDT.

The S&P 500 lost 14 points, or 0.32%, to 4,653. The Nasdaq was off 135 points, or 0.88%, to 15,277.

The VIX volatility index, known as the fear index, was on the rise again, adding 6.9% to 21.71.

The dollar index was flat at 96.30, while the yield on 10-year US Treasury notes rose 2.5% to 1.460%.

Precious metals reversed course and lost value with gold losing 0.77% to $1,772 per ounce and silver falling 2.2% to $21.84.

Crude prices were down around 1.3% with Brent crude trading at $73.42 per barrel and US benchmark West Texas Intermediate crude at $70.44.

US producer prices soared 9.6% in November on an annual basis, its highest level since data were first calculated in November 2010, according to figures released by the Labor Department.

source: News Feed
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