US stocks higher as producer prices rise below estimates

ISTANBUL

Major stock exchanges in the US were higher on Tuesday as July producer prices rose below expectations.

The Dow Jones was up 86 points, or 0.22%, to 39,443 at 10.25 a.m. EDT (1425GMT). The S&P 500 added 41 points, or 0.78%, to 5,385.

The Nasdaq, meanwhile, increased 236 points, or 1.4%, to 17,018.

Producer inflation in the US rose 0.1% monthly in July, coming below expectations of 0.2% in July, the Bureau of Labor Statistics said earlier. On an annual basis, producer prices rose 2.2% in July, also coming below market estimates of a 2.3% increase.

The VIX volatility index, also known as the fear index, dove 6.5% to 19.35. The 10-year US Treasury yield fell 1% to 3.872%.

The US dollar index lost 0.2% to 102.92, while the euro rose 0.22% to $1.0955 against the greenback.

Precious metals were in negative territory, with gold losing 0.19% to $2,467 per ounce and silver down 1.4% to $27.56.

Oil prices were down around 1.6%, with global benchmark Brent crude at $81.02 per barrel and US benchmark West Texas Intermediate at $78.75.