NEW YORK, March 29 — Wall Street stocks rose early today as regional banking shares climbed amid hopes that a crisis in the sector has been addressed.

Shares of regional banks have faced waves of selling in recent weeks, following the failures of Silicon Valley Bank and two other lenders.

But First Republic Bank, Western Alliance Bancorporation and Comerica were all in positive territory.

"The market has been waiting to see if more banks are going to fail, and they're not. So for now, it seems like the situation is contained," said Adam Sarhan of 50 Park Investments.

"And what we're seeing in the market is a relief rally, where stocks are not falling and that in itself is a good sign," he said.

About 15 minutes into trading, the Dow Jones Industrial Average was up 0.8 per cent at 32,641.85.

The broad-based S&P 500 gained 1.1 per cent to 4,013.69, while the tech-rich Nasdaq Composite Index climbed 1.4 per cent to 11,878.11.

Among other companies, Lululemon Athletica jumped nearly 15 per cent after reporting a 30 per cent increase in revenues in the fourth quarter, following a solid holiday season. — AFP