US stocks open higher, buck global market trend

FILE- In this Thursday, June 21, 2012 file photo, a trader works on the floor of the New York Stock Exchange in New York. Wall Street appeared headed for a higher opening, Friday June 22, 2012 a day after the Dow sustained its second-worst loss of the year. Dow Jones industrial futures rose 0.4 percent to 12,546 and S&P 500 futures added 0.4 percent to 1,323.50. (AP Photo/Mary Altaffer, File)

NEW YORK (AP) — Stocks are bouncing back at the opening of trading, a day after suffering their second-worst loss this year.

JPMorgan Chase and Bank of America are leading the Dow Jones industrial average higher early Friday. Big bank stocks are rising even after the rating agency Moody's cut the credit ratings on 15 large banks late Thursday.

Moody's had been warning that it would make the move since earlier this year.

The Dow is up 53 points to 12,626 shortly after the opening bell.

The Standard & Poor's 500 index is up 4 points to 1,330 and the Nasdaq composite index is up 9 points to 2,867.

European and Asian stocks fell again on Friday.