NEW YORK, Nov 14, 2007 (AFP) - Wall Street opened higher Wednesday with the market keeping momentum from a powerful rally a day earlier fueled by hopes that the worst of the US housing and credit crisis is over.

In the first exchanges, the Dow Jones Industrial Average advanced 33.90 points (0.25 percent) to 13,340.99 a day after surge of more than 300 points for the blue-chip index.

The Nasdaq composite climbed 20.13 points (0.75 percent) to 2,693.78 and the Standard & Poor's 500 broad-market index added 7.55 points (0.51 percent) to 1,488.60.

The rally has been led by a snapback in the financial sector which had been reeling from the impact of soured investments in US real estate. But analysts said the market now believes the crisis is contained.

"There are still risks that another major announcement of a write-off at a financial institution will throw the market into a tizzy. It is too early to assume the stock market impact of the credit crisis is over," said Dick Green at Briefing.com.

"However, if the economic data hold steady and don't indicate a recession, the market may begin to start looking past the current problems to 2008."