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U.S. stocks were mixed on Thursday following the release of inflation data, but crypto stocks soared following the approval of a Spot Bitcoin ETF.
As of 9:47 a.m. ET, the Dow Jones Industrial Average was down 27.71 points, or 0.07%, at 37,668.02, the S&P 500 was up 1.99 points, or 0.04%, at 4,785.44, and the Nasdaq Composite Index was up 30.36 points. . 15,000.01 is 0.20 percent.
Consumer prices rose more than expected in December, according to a Labor Department report. CPI statistics for December were reported to be 3.4% year-on-year, up from 3.1% in the previous month. Core inflation was 3.9%, down from 4.0%.
Cryptocurrency stocks such as Coinbase Bitfarms and Riot Platforms rose between 5% and 11%.
Bitcoin soared to nearly $49,000 after the U.S. Securities and Exchange Commission approved a cryptocurrency exchange-traded fund.
The SEC has approved plans for 11 ETFs to list on major exchanges, including the New York Stock Exchange.
U.S. stocks closed higher on Wednesday, led by gains in mega-cap stocks. The Dow Jones Industrial Average rose 170.57 points, or 0.45%, to $37,695.73. The S&P 500 Index rose 26.95 points, or 0.57%, to 4,783.45, and the Nasdaq Composite Index rose 111.94 points, or 0.75%, to 14,969.65.
The yield on the 10-year U.S. Treasury rose to 4.03% from 3.98% just before the inflation report was released.
European stocks rose, led by gains in auto and tech stocks.
The pan-European STOXX600 rose 0.5% by 0921 GMT.
Britain’s FTSE 100 index fell 0.1% to 7,645.04 points. France’s CAC40 rose 0.4% to 7,454.72. Germany’s DAX rose 0.2% to 16,716.16.
Oil prices rose on Thursday after Iran seized an oil tanker off the coast of Oman, raising the prospect of escalating conflict in the Middle East.
At 1413 GMT, Brent crude oil futures were up $1.60, or 2.1%, at $78.40 a barrel, while US West Texas Intermediate crude futures were up $1.70, or 2.4%. The price was $73.07.
Gold prices pared Thursday’s gains. Spot gold rose 0.1% to $2,024.99 an ounce as of 9:08 a.m. ET (4:08 p.m. Japan time). US gold futures also rose 0.2% to $2,029.30.
In Asian markets, Hong Kong’s Hang Seng Index rose 1.3% to 16,302.04. China’s Shanghai Composite rose 0.3% to 2,886.65.
Japan’s Nikkei Stock Average rose 1.8% to 35,049.86 yen.
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