US Stocks Close Mixed, Surrendering Earlier Gains

US stock exchanges closed mixed on Thursday as some indices gave up earlier gains with positive sentiment created by easing inflation.

The Dow Jones was up 27 points, or 0.08%, to close the day at 33,336.

The S&P 500 lost 3 points, or 0.07%, to end the day flat at 4,207.

The tech-heavy Nasdaq declined 74 points, or 0.58%, to 12,779.

Indices had a strong start to the day after annual producer inflation rose 9.8% in July, slowing from an 11.3% gain in June, according to Department of Labor figures. On a monthly basis, producer prices fell 0.5% last month.

The VIX volatility index, also known as the fear index, rose 2% to 20.14. The 10-year US Treasury yield soared 4% to 2.891%.

While the dollar index was flat at 105.13, the euro rose 0.23% to $1.0321 against the dollar.

Precious metals were on decline, with gold losing 0.3% to $1,786 and silver falling 1.5% to $20.28.

Oil prices were up more than 2%. Global oil benchmark Brent crude was at $99.53 per barrel for a 2.2% gain, while US benchmark West Texas Intermediate (WTI) was at $94.19 -- a 2.5% increase. -