US stocks open higher, led by gains in banks and industrial firms

Stocks are opening mostly higher on Wall Street, getting the week off to a positive start after the S&P 500 posted its biggest weekly decline since February.

The benchmark index was up 0.3 per cent in the first few minutes of trading Monday.

Banks and industrial companies were doing the best, while several big technology companies were falling.

That helped pull the tech-heavy Nasdaq composite down 0.4 per cent. Investors will be keeping an eye on more data coming out on inflation this week, as well as earnings from Nike and FedEx. Bond prices fell. The yield on the 10-year Treasury note rose to 1.48 per cent.

Investors are still thinking over the Federal Reserve’s signal that it may raise current ultra-low interest rates sooner than expected and slow its market-supporting bond purchases.

Part of the Fed’s…