US stocks open higher as oil rebounds, banks rise
Posted February 12, 2016 6:00 am
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.
People walk by an electronic stock board of a securities firm in Tokyo, Friday, Feb. 12, 2016. Japan's main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Koji Sasahara)
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A man walks by an electronic stock board of a securities firm showing Japan's Nikkei Index that fell 760 points or 4.84 percent to 14,952.61 in Tokyo, Friday, Feb. 12, 2016. Japan's main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Koji Sasahara)
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People stand in front of an electronic stock board of a securities firm in Tokyo, Friday, Feb. 12, 2016. Japan's main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Koji Sasahara)
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A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Feb. 12, 2016. Japanâs main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Ahn Young-joon)
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A currency trader holds his head at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Feb.12, 2016. Japanâs main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Ahn Young-joon)
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A woman uses her smartphone in front of an electronic board showing the Hong Kong index at a bank in Hong Kong, Friday, Feb. 12, 2016. Japanâs main stock index dived Friday, leading other Asian markets lower, after a sell-off in banking shares roiled investors in the U.S. and Europe. (AP Photo/Kin Cheung)
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Money trader works at a foreign exchange brokerage in Tokyo, Friday, Feb. 12, 2016. Japanese shares were weighed down by a surge in the yenâs value to 110.99 yen against the dollar, though that gain largely evaporated by the time trading began in Asia on Friday. A stronger yen is viewed as a risk for Japanese exporters whose planning has been premised on a much weaker level of about 118 yen to the dollar, analysts say. In currency trading on Friday, the dollar edged lower to 112.24 yen from 112.29 the previous day. (AP Photo/Koji Sasahara)
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A money trader walks past the computer screens at a foreign exchange brokerage in Tokyo, Friday, Feb. 12, 2016. Japanese shares were weighed down by a surge in the yenâs value to 110.99 yen against the dollar, though that gain largely evaporated by the time trading began in Asia on Friday. A stronger yen is viewed as a risk for Japanese exporters whose planning has been premised on a much weaker level of about 118 yen to the dollar, analysts say. (AP Photo/Koji Sasahara)
The Associated Press
A money trader reacts as he checks computer monitors at a foreign exchange brokerage in Tokyo, Friday, Feb. 12, 2016. Japanese shares were weighed down by a surge in the yenâs value to 110.99 yen against the dollar, though that gain largely evaporated by the time trading began in Asia on Friday. A stronger yen is viewed as a risk for Japanese exporters whose planning has been premised on a much weaker level of about 118 yen to the dollar, analysts say. In currency trading on Friday, the dollar edged lower to 112.24 yen from 112.29 the previous day. (AP Photo/Koji Sasahara)
The Associated Press
A money trader reacts in front of the computer monitors at a foreign exchange brokerage in Tokyo, Friday, Feb. 12, 2016. In currency trading, the dollar edged lower to 112.24 yen from 112.29 the previous day. The euro fell to $1.1309 from $1.1315. (AP Photo/Koji Sasahara)
The Associated Press
A man looks at an electronic stock board showing Japan's Nikkei 225 in Tokyo, Friday, Feb. 12, 2016. Asian shares fell Friday, with Japanâs Nikkei 225 index tumbling more than 5 percent following a sell-off in European and U.S. markets. (AP Photo/Eugene Hoshiko)
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Men look at an electronic stock board showing Japan's Nikkei 225 in Tokyo, Friday, Feb. 12, 2016. Asian shares fell Friday, with Japanâs Nikkei 225 index tumbling more than 5 percent following a sell-off in European and U.S. markets. (AP Photo/Eugene Hoshiko)
The Associated Press
A man walks past an electronic stock board showing Japan's Nikkei 225 in Tokyo, Friday, Feb. 12, 2016. Asian shares fell Friday, with Japanâs Nikkei 225 index tumbling more than 5 percent following a sell-off in European and U.S. markets. (AP Photo/Eugene Hoshiko)
The Associated Press
Foreign tourists walk past an electronic stock board showing Japan's Nikkei 225 in Tokyo, Friday, Feb. 12, 2016. Japan's benchmark stock index dived more than 5 percent Friday following a sell-off in European and U.S. markets. (AP Photo/Eugene Hoshiko)
The Associated Press
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