U.S. stocks open higher as regional banks bounce, debt-ceiling talks in focus


U.S. stock indexes opened higher on Wednesday as investors hoped the White House and congressional leaders could come to a deal on the U.S. debt ceiling and avoid a cataclysmic default. Dow Jones Industrial Average DJIA, +0.19% was up 132 points, or 0.4%, to 33,146. The S&P 500 SPX, +0.25% gained 0.5%, and the Nasdaq Composite COMP, +0.21% rose 0.4%. Regional bank shares also jumped on Wednesday morning. Western Alliance Bancorp stock WAL, +10.38% rallied 12.1% at the open after the lender said its deposits have grown by $2 billion during the second quarter. Other bank stocks that have been under pressure since the collapse of Silicon Valley Bank in March also regained their footing. The Invesco KBW Regional Banking ETF KBWR, +3.21% advanced 2.1%.

This article was originally published by Marketwatch.com. Read the original article here.

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