US stocks open higher as Treasury yield falls below 4%

By Ovunc Kutlu

ISTANBUL (AA) – US stock exchanges opened higher Friday as the 10-year US Treasury yield fell below the critical level of 4% that has been closely watched by investors.

The Dow Jones was up 68 points, or 0.2%, to 33,071 at 9.43 a.m. EDT (1443GMT). The S&P 500 rose 18 points, or 0.45%, to 3,999.

The Nasdaq increased 78 points, or 0.68%, to 11,541 at the time.

The VIX volatility index, also known as the fear index, fell 1% to 19.39, while the 10-year US Treasury yield decreased 2% to 3.993%. Investors have been closely watching the key level of 4% in 10-year yield, which affects mortgage rates, credit and auto loans.

The dollar index declined 0.3% to 104.73, while the euro added 0.23% to $1.0620 against the greenback.

Precious metals were in positive territory, with gold rising 0.5% to $1,845 per ounce and silver increasing 0.3% to $20.96.

Oil prices were down around 1%, with global benchmark Brent crude at $83.94 per barrel and US benchmark West Texas Intermediate at $77.55.