Wall St. opens higher as Deutsche Bank recovers

U.S. stock indices opened Friday higher, recovering some of the losses made yesterday as the banking and financial sectors recovered, led by Deutsche Bank. 

As of 13:59 GMT, Dow Jones rose 103.01 points, or 0.57 points to 18,246.46, while Standard and Poor's 500 added 10.10 points, or 0.47% to 2,161.23. NASDAQ Composite advanced 16.09 points, or 0.31% to 5,285.24. 

S&P 500 lost 0.9% after a sharp tumble in banking stocks, led by a 6.5% loss in Deutsche Bank after Bloomberg said 10 investments funds sold some of their Deutsche Ban's stock. 

Deutsche however surged back 6%, recovering most of yesterday's losses after the CEO John Crayan said in a note to employees the bank's budget is safer than any time in the last two decades. 

The energy sector rose as oil prices climbed for the third straight session, as markets welcome the first OPEC production deal since 2008. 

Earlier data showed personal spending with no change in August, compared to a 0.4% rise in July, and worse than expectations of a 0.2% rise, while personal income rose 0.2% in August, down from 0.4%. 

These weak data could persuade the Federal Reserve to delay hiking rates, as the bank relies heavily on data to take its policy decisions.