US stocks open higher, buck global market trend
NEW YORK (AP) — Stocks are bouncing back at the opening of trading, a day after suffering their second-worst loss this year.
JPMorgan Chase and Bank of America are leading the Dow Jones industrial average higher early today. Big bank stocks are rising even after the rating agency Moody’s cut the credit ratings on 15 large banks late Thursday.
Moody’s had been warning that it would make the move since earlier this year.
The Dow is up 53 points to 12,626 shortly after the opening bell.
The Standard & Poor’s 500 index is up 4 points to 1,330 and the Nasdaq composite index is up 9 points to 2,867.
European and Asian stocks fell again today.