Wall St. rises at open as banks offset data

Stocks rose at the open on Thursday as investors snapped up financial shares following news the Obama administration may request more money to shore up banks.

Reassuring news on the banking sector from Europe also buoyed sentiment, offsetting grim U.S. government data that showed the labor market worsening and a slide in durable goods orders. Citigroup rose 11.5 percent to $2.81 while Bank of America gained over 13 percent to $5.85.

The Dow Jones industrial average <.DJI> gained 60.53 points, or 0.83 percent, to 7,331.42. The Standard & Poor's 500 Index <.SPX> rose 8.28 points, or 1.08 percent, to 773.18. The Nasdaq Composite Index <.IXIC> added 9.24 points, or 0.65 percent, to 1,434.67.

(Editing by James Dalgleish)