US STOCKS-Profit optimism, financials fuel Wall St's rebound

Newswire

(Updates to close) By Kristina Cooke NEW YORK, July 30 (Reuters) - U.S. stocks rebounded on Monday after a global equity sell-off last week, as optimism about earnings resurfaced and concern about credit conditions eased. Financial shares, which have borne the brunt of fallout from tightening credit markets, bounced back in part after ratings agency Standard & Poor's upgraded Morgan Stanley's debt. Sentiment about the sector also improved after the bailout of a hedge fund steeped ...

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