US stocks jump at opening as consumer inflation softens

ISTANBUL

US stocks jumped at the opening Tuesday as consumer inflation softened annually and monthly.

The Dow was up 361 points, or 1.05%, to 34,701 at 9.36 a.m. EDT, while the S&P 500 soared 60 points, or 1.37%, to 4,472.

The Nasdaq added 255 points, or 1.86%, to 14,023.

Annual consumer inflation in the US came in at 3.2% in October, slowing from a 3.7% gain in September, according to Labor Department figures.

On a monthly basis, the consumer price index in October remained unchanged from the previous month, also slowing from a 0.4% increase in September.

The VIX volatility index, also known as the fear index, fell 4.5% to 14.10. The 10-year US Treasury yield lost 3.9% to 4.451%.

The dollar index fell 0.95% to 104.63 while the euro rose 1.2% to $1.0826 against the greenback.

Precious metals were in positive territory, with gold adding 1.1% to $1,968 an ounce and silver increasing 3.3% to $23.06.

Oil prices increased around 1.2%, with global benchmark Brent crude at $83.56 per barrel and US benchmark West Texas Intermediate at $79.25.