Wall Street opens higher, buoyed by finance sector

US stock indices opened higher on Wednesday as the European Central Bank Forum on Central Banking starts officially in Portugal, and following earlier data that showed the goods trade deficit shrinking more than expected, while wholesale inventories rose past expectations in May.

US existing home sales fell 0.8% in May, adding to the 1.7% drop in April, while analysts expected a 0.9% rise, and on a yearly basis, sales rose 0.5%, compared to a 5.8% tumble in April.

Otherwise, banking shares led the way higher on Wall Street after reports that investors have overreacted to ECB governor Mario Draghi's statements yesterday about the monetary stimulus for the euro zone in his opening remarks in the Portugal forum. 

Today, global central bank governors are scheduled to participate in a panel discussion at the European Central Bank Forum on Central Banking, in Portugal, including ECB President Mario Draghi, BOE Governor Mark Carney, BOC Governor Stephen Poloz, and BOJ Governor Haruhiko Kuroda.

As of 04:12 GMT, Standard and Poor's 500 rose 0.72%, or 17.46 points to 2,436.84, while Dow Jones added 0.61%, or 130.88 points to 21,441.54. 

Tech-heavy NASDAQ rallied 0.85%, or 52.53 points to 6,199.16.