US stocks open mixed before key inflation data

By Ovunc Kutlu

ANKARA (AA) - US stocks were mixed at the opening Tuesday, one day before an announcement on consumer inflation.

The blue-chip Dow was down 33 points, or 0.11% to 31,139 at 9.34 a.m. EDT. The S&P 500 was mostly flat at 3,854.

The Nasdaq rose 78 points, or 0.7%, to 11,450 after the tech-heavy index closed lower Monday to end a five-day winning streak.

Annual consumer inflation is expected to show an increase of 8.8% in June, according to expectations, up from an annual gain of 8.6% in May.

If the figure, which will be released before markets open Wednesday, is higher than expectations, the US Federal Reserve will be forced to make more aggressive moves concerning rate hikes that could lower liquidity in markets.

The VIX volatility index, also known as the fear index, rose 0.9% to 26.40.

The 10-year US Treasury yield fell 2.2% to 2.924%.

The dollar index soared to 108.56 before the first bell, posting a 20-year record.

The euro fell to as low as $1 at 5.45 a.m. EDT, its lowest since December 2002. The parity later recovered to $1.0067.

Precious metals were on decline with gold losing 0.2% to $1,730 and silver decreasing 0.5% to $19.01.

After plummeting more than 8% last Tuesday, crude prices were once again in negative territory.

Global oil benchmark Brent crude was trading at $102.66 per barrel for a 4.1% loss, while US benchmark West Texas Intermediate (WTI) was at $99.50 -- down 4.4%.