Wall Street Opens Higher as Banking Crisis Fears Ebb

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on March 20, 2023. (Brendan McDermid/Reuters)

Wall Street’s main indexes opened higher on Wednesday as easing worries about a banking crisis lifted risk sentiment, while investor expectations rose about a pause in the Federal Reserve’s interest rate hikes.

The Dow Jones Industrial Average rose 172.29 points, or 0.53 percent, at the open to 32,566.54. The S&P 500 opened higher by 28.26 points, or 0.71 percent, at 3,999.53, while the Nasdaq Composite gained 139.51 points, or 1.19 percent, to 11,855.59 at the opening bell.