US stocks open higher as oil rebounds, banks rise

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 per cent. JP Morgan Chase was up 5 per cent.

Oil jumped 6 per cent, helping to lift energy company shares. Drilling company Transocean was up 5 per cent.

The Dow Jones industrial average rose 130 points, or 0.8 per cent, to 15,790 as of 9:35 a.m. Eastern time.

The Standard & Poor’s 500 index rose 18 points, or 1 per cent, to 1,847. The Nasdaq composite rose 42 points, or 1 per cent, to 4,300.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.695 per cent.