US stocks open mixed with disappointing retail figures

ISTANBUL

US stocks opened mixed on Friday as the retail sales figures in March disappointed investors.

The Dow Jones rose 25 points, or 0.8%, to 34,025 at 9.37 a.m. EDT. The S&P 500 added six points, or 0.15%, to 4,152.

The tech-heavy Nasdaq, on the other hand, decreased seven points, or 0.5%, to 12,158.

US retail sales fell 1% in March, more than market estimates of a 0.4% decline, according to advance figures released earlier by the Commerce Department.

On an annual basis, retail sales were up 2.9% in March, compared to the same month of 2023.

The annual gain, however, is a sharp slowdown from the 5.4% year-on-year increase in February, which was revised up to a 5.9% gain.

The VIX volatility index, also known as the fear index, fell 0.8% to 17.66. Meanwhile, the 10-year US Treasury yield rose 1.3% to 3.498%.

The dollar index added 0.26% to 101.25, while the euro lost 0.17% to $1.1025 against the greenback.

Precious metals were mixed with gold trimming 0.7% to $2,026 per ounce, but silver added 0.4% to $25.93.

Oil prices increased around 0.7%, with global benchmark Brent crude at $86.61 per barrel and US benchmark West Texas Intermediate crude at $82.80.