US stocks close higher as inflation eases

By Ovunc Kutlu

ISTANBUL (AA) - US stocks closed Tuesday higher with easing inflation figures in the country.

Annual consumer inflation in the US came in at 6% in February, easing from 6.4% in January. The figure calmed fears that the Federal Reserve would consider a large rate hike next week.

The Dow Jones added 336 points, or 1.06%, to 32,155, while the S&P 500 gained 63 points, or 1.65%, to 3,919.

In a 2.14% rise, the tech-heavy Nasdaq jumped 239 points to 11,428.

The VIX volatility index, also known as the fear index, plummeted 10.5% to 23.73, while the 10-year US Treasury yield soared 4.8% to 3.685%.

The dollar index rose 0.1% to 103.66, while the euro lost 0.1% to $1.0734 against the greenback.

Precious metals were in the negative, with the price of gold falling 0.5% to $1,904 per ounce, and silver trimming 0.6% to $21.66.

Oil prices were mixed with a huge spread between the two benchmarks. The price of international benchmark Brent crude was up 0.04% to $77.53 per barrel, but the US-based benchmark West Texas Intermediate was at $71.48 after a 4.4% decline.