US stocks close higher despite record inflation

ANKARA

Major indices in the US stock market closed higher on Friday despite record high inflation.

The Dow Jones industrial average was up 216 points, or 0.6%, to 35,971.

The S&P 500 gained 44 points, or 0.95%, to post a record high closing of 4,712.

The Nasdaq increased 113 points, or 0.73%, to 15,630.

The VIX volatility index, known as the fear index, was down 13.1% to 18.76.

The dollar index was down 0.22% to 96.06, while the yield on 10-year US Treasury notes was at 1.487%.

Precious metals were up, with gold adding 0.4% to $1,782 per ounce and silver rising 0.95% to $22.17.

Crude prices increased around 1.4% with Brent crude trading at $75.41 per barrel and US benchmark West Texas Intermediate crude at $72.02.

US consumer prices rose 6.8% in November on an annual basis, as it marked the largest 12-month increase since June 1982, the US Labor Department reported earlier.