Stocks close higher, helped by better than expected earnings

|By:, SA News Editor

Stocks rebounded after a round of stronger than expected corporate earnings helped support market sentiment, although the advance lost some steam in the final hour.

The health care sector paced today's advance, helped by a 6.9% gain for UnitedHealth after beating analysts' estimates for the quarter and raising its full-year guidance.

All 11 S&P 500 sectors finished in the green with health care (+1.1%), materials (+0.9%), utilities (+0.8%), financials (+0.8%) and tech (+0.7%) leading the pack.

Also noteworthy was the relative strength in the "FANG" stocks - Facebook (+0.8%), Amazon (+0.6%), Netflix (+19%), and Alphabet (+1.9%) - after NFLX impressed with a strong Q3 earnings report.

Today's trading volume came in below the recent average, as 742M shares changed hands at the NYSE floor.

U.S. crude oil prices pushed higher, up 0.8% to $50.32/bbl, along with longer-dated Treasury prices, which has pushed yields lower, with the benchmark 10-year note down by 2 bps at 1.75%.