US stocks open higher as producer prices slow down

By Ovunc Kutlu

ISTANBUL (AA) - US stock exchanges opened Thursday higher as producer prices showed a slowdown in June.

The Dow Jones was up 108 points, or 0.33%, to 34,456 at 9.36 a.m. EDT (1336GMT). The S&P 500 added 23 points, or 0.53%, to 4,495.

The Nasdaq increased 125 points, or 0.9%, to 14,044.

Annual producer inflation in the US softened to 0.1% in June, down from a gain of 0.9% in May, showed Labor Department figures earlier.

The VIX volatility index, also known as the fear index, fell 1.2% to 13.38. The 10-year US Treasury yield, meanwhile, lost 1.6% to 3.801%.

The dollar index lost 0.4% to 100.13, while the euro gained 0.5% to $1.1188 against the greenback.

Precious metals were on the rise, with gold adding 0.1% to $1,959 per ounce and silver adding 1.5% to $24.49.

Oil prices were down around 0.2%, with global benchmark Brent crude at $80.11 per barrel and US benchmark West Texas Intermediate at $75.57.