Wall Street opens on a positive note

Stocks in the US opened higher IBM Corporation reaffirmed its profit outlook and investors hoped the Govt might take ownership stakes in banks.

Stocks are opening higher after IBM Corp reaffirmed its profit forecast and investors hoped the government might take ownership stakes in banks to help stabilize the financial industry.

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Wall Street is looking to recover on Thursday from near-panic selling that has cascaded through global markets in the past week. The Dow Jones industrials are up 140 points at the 9,394 level in early trading.