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US stocks open higher on Citi news

US stocks open higher on Citi news

Stocks are rising after troubled Citigroup said it operated at a profit during the first two months of the year.
Citi Chief Executive Vikram Pandit says the bank had an operating profit of $8.3 billion before taxes and special items through February. Word of the bank's performance is breaking, at least for the moment, a torrent of bad news from the banking industry that has pounded financial stocks and in turn, the overall market.
Meanwhile, Federal Reserve Chairman Ben Bernanke is calling for a revamp of the U.S.'s financial regulatory system.
In the first few minutes of trading, the Dow Jones industrial average is up 123 at 6,670. The Standard & Poor's 500 index is up 15 at 692, while the Nasdaq composite index is up 26 at 1,295.