US stocks open higher as oil rebounds, banks rise

AP News
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Posted: Feb 12, 2016 9:45 AM
US stocks open higher as oil rebounds, banks rise

U.S. stocks opened higher, seeking their first gain this week, as beaten-down energy and financial companies rebounded.

Banks rose Friday after Deutsche Bank offered to buy more than $5 billion in bonds. Its shares were up 9 percent. JP Morgan Chase was up 5 percent.

Oil jumped 6 percent, helping to lift energy company shares. Drilling company Transocean was up 5 percent.

The Dow Jones industrial average rose 130 points, or 0.8 percent, to 15,790 as of 9:35 a.m. Eastern time.

The Standard & Poor's 500 index rose 18 points, or 1 percent, to 1,847. The Nasdaq composite rose 42 points, or 1 percent, to 4,300.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.695 percent.