US market opens higher as investors look forward after Fed

ANKARA

US stocks were higher at the opening Thursday as investors look forward, leaving behind the Federal Reserve meeting.

The Dow Jones industrial average soared 98 points, or 0.27%, to 36,025 at 9.40 a.m. EDT. The S&P 500 was up 8, or 0.17%, to 4,717.

The Nasdaq was down slightly by 15 points, or 0.1%, to 15,550, despite a higher opening.

The VIX volatility index was down as markets calmed after the Fed meeting. The fear index fell 0.5% to 19.19.

The dollar index was down 0.57% to 95.96, and the yield on 10-year US Treasury notes declined 2.2% to 1.429%.

Precious metals were on the rise with gold adding 0.84% to $1,791 per ounce and silver increasing 1.3% to $22.36.

Crude prices were up around 0.4%, with Brent crude trading at $74.13 per barrel and US benchmark West Texas Intermediate crude at $71.28.

The Fed removed the word “transitory” from describing inflation on Wednesday, saying it will conclude tapering faster by doubling asset purchases and the bank signaled three rate hikes for 2022 to tame record inflation.

The decisions were widely expected by investors, and they have already been priced into the markets during the last two weeks, after Fed Chair Jerome Powell first made the signals during his testimony before the Senate on Nov. 30, when he shifted his dovish stance to a hawkish tone.