By Aysu Bicer
ANKARA (AA) - US stocks opened higher Thursday in the aftermath of a landmark inflation reading.
Consumer prices in the US rose 7% year-on-year in December, marking the largest 12-month increase since June 1982, Labor Department data showed Wednesday.
US producer prices jumped 9.7% year-on-year, its highest level on record, according to figures released Thursday.
The producer price index, which measures changes in the price of goods and services from a producer perspective, was expected to show an increase of 9.8% last month.
The Dow Jones industrial average rose 106.85 points, or 0.29%, to 36,397 at 9.30 a.m. EDT (1430GMT). The S&P 500 increased 0.22% or 10.42 points, to 4,736.
The Nasdaq was up 45.19 or 0.30% to 15,233.
The dollar index rose 0.18% to 96.25, while the yield on 10-year US Treasury notes added 0.61% to 1.467%.
Precious metals were mixed with gold falling 5.40% to $1,821 per ounce, but silver adding 0.08% to $23.21.
The VIX volatility index also increased 1.19% to 17.83