U.S. stocks opened higher Wednesday, as investors await home sales data and congressional testimony from the Federal Reserve’s Michael Barr on bank oversight. The Dow Jones Industrial Average DJIA was up more than 200 points, or 0.8%, soon after the opening bell, while the S&P 500 SPX gained 1% and the Nasdaq Composite COMP rose 1.2%, according to FactSet data, at last check. The U.S. economic calendar is light on Wednesday, with data on pending U.S. home sales expected to be released at 10 a.m. Eastern time. Also at 10 a.m., Barr, the Fed’s vice chair for supervision, will testify before the U.S. House Financial Services Committee on bank oversight after recent regional bank failures.
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