U.S. stocks gained steam on Friday, buoyed by better-than-expected bank earnings and higher oil prices. Wells Fargo (WFC) shares rose after reporting earnings of $1.03 a share for the third quarter, topping estimates of $1.01. Revenue rose 2% year-over-year to $22.3 billion, slightly ahead of forecasts. The bank's CEO John Stumpf announced his retirement on Wednesday amid its fake bank account scandal. Citigroup (C) reported earnings of $1.24 a share, $0.08 ahead of estimates. Revenue of $17.76 billion beat forecasts of $17.36 billion, but fell 4% year-over-year. Oil prices gained steam after U.S. gasoline inventories fell. Prices have remained above $50 a barrel for roughly one week. United Airlines (UAL) suffered from a computer glitch which delayed departures overnight. The airline said the problem has been fixed. Back in August, Delta Air Lines (DAL) experienced a similar hiccup. TheStreet's Scott Gamm reports from Wall Street.
More from Video
Breaking down an approach to the long side of this biotech stock.
AMSC CEO discusses that and China challenges.
One of pharma's biggest CEO's talks M&A action on the exchange.
Citi overcame a mixed print to send its stock surging on Monday.