US STOCKS-Wall St opens higher, banks gain on rates speculation

martes 24 de mayo de 2016 10:03 GYT
 

* Best Buy down on weak forecast

* Toll Brothers rises as revenue beats expectations

* Indexes up: Dow 0.87 pct, S&P 0.77 pct, Nasdaq 0.85 pct (Updates to open)

By Tanya Agrawal

May 24 (Reuters) - Wall Street opened higher on Tuesday, recouping some of Monday's losses, with banks among the biggest gainers as investors speculated on the possibility of a June interest rate hike.

Minutes of the Federal Reserve's April meeting suggested a June rate hike had not been ruled out, surprising investors who had thought the Fed would stand pat until the end of the year.

The gains were broad-based, with all 10 S&P sectors higher. The financial index's 1.2 percent rise led the advance.

"Investors are looking for direction in terms of the health of the economy and the Fed's next move. Until we get that, the market will remain in a tight trading range," said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

Several Fed officials struck hawkish tones in separate speeches on Monday, calling for two-three rate hikes in 2016 if supported by economic data.   Continuación...