Wall Street Opens Higher as Banking Fears Ease and Earnings Season Picks Up
US stocks opened higher on Monday as investor sentiment improved following last week’s sell-off in regional banks and ahead of a busy week of corporate earnings reports.
The S&P 500 climbed 0.7% to 6,708.79, the Dow Jones Industrial Average rose 0.5% to 46,398.58, and the Nasdaq Composite advanced 0.9% to 22,874.08 in early trading.
The rebound follows sharp declines on Friday, triggered by warnings from Western Alliance Bank and Zions Bank, which revealed they had been affected by bad or potentially fraudulent loans, sparking renewed concerns over the health of US regional lenders.
By Monday, however, investor nerves appeared to have settled, with financial stocks recovering some losses. Attention has now turned to a wave of earnings releases from New York-listed companies expected throughout the week, which could provide further insight into the strength of the US economy and corporate resilience amid persistent inflation and high interest rates.
