US stocks rebound on earnings report

US shares rallied following it recorded two days of losses Thursday, bolstered by the third quarter earnings report of the financial sector. The S&P's financial sector ended up 2.3% for its best trading day in over a month. Citigroup rose 4.4% following it surpassed projections. A Reuters data showed 67% of the companies that reported earnings so far have outmatched analyst estimates. The Dow Jones Industrial Average settled at 17,141.75, up 1.28%, the Nasdaq Composite ended at 4,870.10, up 1.82%, and the S&P 500 closed at 2,023.86, up 1.49%. The surge of stocks was merely a bounce back, as none of the fundamentals have become “decisive enough to take you away from the technical battle that's going on,” said Jim Paulsen, Chief Investment Officer at Wells Capital Management.

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