US stocks open higher as trade deficit narrows

By Ovunc Kutlu

ANKARA (AA) - US stocks opened higher Thursday after the nation’s trade deficit showed a pullback.

The Dow was up 276 points, or 0.9% to 31,320 at 9.50 a.m. EDT (1350GMT). The S&P rose 41 points, or 1.1%, to 3,885.

The Nasdaq added 153 points, or 1.4%, to 11,515.

The VIX volatility index, also known as the fear index, fell 1.6% to 26.29. The 10-year US Treasury yield rose 1.6% to 2.957%.

The dollar index was down 0.13% to 106.95.

Precious metals were on the rise with gold rising 0.4% to $1,746 and silver adding 1.4% to $19.45.

After plummeting more than 8% Tuesday, crude prices reversed course.

Global oil benchmark Brent crude was trading at $105.11 per barrel for a 4.4% gain, while US benchmark West Texas Intermediate (WTI) was at $103.25 -- up 4.8%.

The US' international goods and services deficit fell 1.3% in May, compared to the previous month, according to the Commerce Department's Census Bureau.

The trade deficit came in at approximately $85.5 billion in May, down $1.1 billion from April's revised figure of $86.7 billion.