US stocks end slightly higher as inflation comes in as expected

ANKARA

Major US stock indexes closed slightly higher Wednesday as inflation figures did not surprise and were in line with market expectations.

Consumer prices in December rose 7% year-on-year, marking the largest 12-month gain since June 1982, Department of Labor data showed earlier.

The Dow Jones Industrial Average was up 38 points, or 0.11%, to close at 36,290. The S&P 500 gained 13 points, or 0.28%, to 4,726.

The Nasdaq increased 34 points, or 0.23%, to end the day at 15,188.

The VIX volatility index, known as the fear index, fell 4.4% to 17.60.

The dollar index lost 0.72% to 94.94, while the yield on 10-year US Treasury notes declined 0.6% to 1.736%.

Precious metals were up, with gold rising 0.3% to $1,827 per ounce and silver increasing 1.8% to $23.23.

Crude prices rose more than 1%, with Brent crude trading at $84.73 per barrel and US benchmark West Texas Intermediate crude at $82.78.