Wall Street’s main indexes opened higher on Thursday after the Federal Reserve hinted it was close to pausing interest rate hikes amid a turmoil in the banking sector that threatens to cause a severe economic downturn.

The Dow Jones Industrial Average rose 71.38 points, or 0.22 percent, at the open to 32,101.49. The S&P 500 opened higher by 22.24 points, or 0.56 percent, at 3,959.21, while the Nasdaq Composite gained 141.36 points, or 1.21 percent, to 11,811.32 at the opening bell.