Stocks inch higher on Wall Street; Citigroup falls

Stocks are opening slightly higher on Wall Street, a day after the market had its best day of the year. Citigroup fell after failing to convince regulators it was healthy enough to raise its dividend.

The Dow Jones industrial average was up 11 points at 13,188 in the first minutes of trading Wednesday. The Standard & Poor’s 500 index was up a point at 1,397 and the Nasdaq composite edged up 2 to 3,042.

A powerful rally in bank stocks pushed the Dow up to its highest close since late 2007 Tuesday. The Federal Reserve said 15 of the 19 major banks it surveyed passed a stress test to see how they would stand up if the economy worsened. Citigroup was among the four that didn’t pass.