US stocks open midweek higher, trying to recover from 3-day loss

By Ovunc Kutlu

ISTANBUL (AA) - US stocks were flat at opening bell on Wednesday, trying to recover from losses in the last three trading days, as investors are worried about a steeper rate hike from the Federal Reserve next week.

The Dow Jones rose 48 points, or 0.14%, to 33,645 at 9.39 a.m. EDT, while the S&P 500 added 10 points, or 0.26%, to 3,951.

The tech-heavy Nasdaq increased 16 points, or 0.15%, to 11,030.

All three indexes posted major losses since last Friday when job figures in November coming above market estimates fueled fears of higher rate hikes from the Fed.

The VIX volatility index, also known as the fear index, added 1.3% to 22.43. The 10-year US Treasury yield, however, fell 1.4% to 3.462%.

The dollar index lost 0.5% to 105.05, while the euro added 0.5% to $1.0522 against the greenback.

Precious metals were up with gold adding 0.8% to $1,785 per ounce and silver soaring 2% to $22.64.

Oil prices were in positive territory. Global benchmark Brent crude was trading at $80.07 per barrel for a gain of 0.9%, while US benchmark West Texas Intermediate crude was around $74.85, up 0.8%.