Wall St Opens Higher, Boosted By IBM

Shares in bank stocks rebounded after Tuesday`s declines, buoyed by strong earnings from Northern Trust.

Wall Street opened higher on Wednesday, buoyed by solid earnings and profit outlook from IBM and a rebound in bank stocks.

* Dow component International Business Machines Corp <IBM.N> provided a boost after the world's top technology services firm posted quarterly profit and a 2009 profit outlook that surpassed expectations. For details, see [ID:nN20268352]. Its shares rose 7.2 percent to $87.95.

* Shares in bank stocks rebounded after Tuesday's declines, buoyed by strong earnings from Northern Trust <NTRS.O> and preliminary results from PNC Financial Services <PNC.N>. The KBW Bank Index rose 7.3 percent <.BKX> and the S&P Financial index <.GSPF> rose 6 percent.

* The Dow Jones industrial average <.DJI> was up 95.82 points, or 1.21 percent, at 8,044.91. The Standard & Poor's 500 Index <.SPX> was up 12.02 points, or 1.49 percent, at 817.24. The Nasdaq Composite Index <.IXIC> was up 26.53 points, or 1.84 percent, at 1,467.39.