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Wall Street Opens Higher As Market Recovers Nerve; Dow up 150 Pts -Breaking

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© Reuters.

Geoffrey Smith 

Investing.com – The U.S. stock exchanges opened higher on Wednesday, as the market regained its strength after Tuesday’s inflation-driven collapse.

At 35,520 point, the index had risen 151 points or 0.4% by 9:45 am ET (1445 GMT). With a 0.7% gain, the was also up and Tuesday’s selling was the worst, the outperformed with 0.9%. However, all three are still below last week’s close.

It was not clear that the main narrative for the week had changed to explain Tuesday’s move, however there were some changes in it. Dip-buyers were encouraged by stronger-than-expected earnings from the financial and consumer sector, while housing starts data released earlier also pointed to sustained strength in the housing market despite fears of overheating. 

Stock of Bank of America (NYSE 🙂 rose 2.7% Morgan Stanley The stock of (NYSE:) rose 1.6%, after the expectations set by JPMorgan (NYSE 🙂 was easily met Citigroup Over the past two trading sessions, Goldman Sachs and (NYSE:), lost ground. These stocks fell further on Wednesday. This suggests that there was some movement within the sector due to the strong numbers of Morgan Stanley and BofA. 

 

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