The Dow Jones climbed in early trading on Wednesday on better-than-expected housing and manufacturing figures, positing a gain of 174.51 (2.28%) to 7,834.72 at 10:50EST.
Meanwhile, new house sales climbed 4.7% in February to a seasonally adjusted annual rate of 337,000. Expectations were for an annual rate of 300,000 units, compared with a revised 322,000 in January. The median sales price of new houses was $200,900.
Early risers on the index include Bank of America which posted a gain of 8.86% to $7.86 and JP Morgan Chase up 6.17% to $28.02.
Shares in General Electric have also risen this morning by 4.80% to $10.91 on news the group has been awarded a $300m gas pipeline contract in China.
An early faller was IT service provider Verizon Communications with a small loss of 0.13% bringing its price to $30.47. The company announced a $2.75bn rights issues yesterday.
In the UK the FTSE 100 was up 8.35 points (0.21%) to 3919.81 at 3:00pm.
Lloyds is the day's biggest winner so far with a gain of 5.34% to bring its price to 61.10p. The bank announced earlier today it was planning to raise $5bn through the sale of a government-guaranteed four-tranche bond.
The Nikkei is down 8.31 points (0.10%) so far today.
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