U.S. Stocks Bounce Back on Earnings, Budget Vote: Markets Wrap
- Ford, Twitter top estimates; traders await Fed chair nominee
- ECB plan to reduce bond-purchase program meets expectations
Citi Strategist's First Impressions of Earnings Season
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Most U.S. stocks climbed amid a raft of robust earnings reports, speculation about the Federal Reserve’s next leader and congressional action on taxes.
The S&P 500 Index rebounded from yesterday’s drop as results from Twitter Inc. to Ford Motor Co. topped estimates. Biotechnology shares buckled, pulling the Nasdaq 100 Stock Index lower, after Celgene Corp.’s cut to its forecast sent drugmakers tumbling. The dollar rose to the highest in 15 weeks, while oil hovered above $52 a barrel.