NEW YORK (TheStreet) -- After a harsh selloff Monday, U.S. equities are rebounding Tuesday with the S&P 500, Dow Jones Industrial Average and Nasdaq all moving higher. TheStreet's Jonathan Marino details Tuesday's top headlines.
JPMorgan (JPM) kicked off an important week of earnings reports for the financial sector. Amid circling legal issues and hefty fines, the institution was able to beat analysts expectations' on both the top and bottom lines.
Wells Fargo (WFC) also reported earnings this morning. It too beat on the top and bottom lines, which is a good start for the sector. Bank of America (BAC) reports tomorrow morning, while Citigroup (C) and Goldman Sachs (GS) both report on Thursday morning.
There was also some heavy M&A activity announcements on Monday, Marino said.Google (GOOG) announced the purchase of Nest Labs for $3.2 billion, while Time Warner Cable (TWC) rejected a $61 billion bid from Charter Communications (CHTR), he reported. Time Warner Cable has confirmed it would accept a $160 per share offer, in a combination of stock and cash. Finally, Marino had the Action Alerts PLUS co-portfolio manager Jim Cramer's top pick: Yum Brands (YUM). Yum reported a 2% increase in Chinese comp sales. Cramer said it's a sign of a rebound for the company in the region and he is a buyer of the stock on weakness. -- Written by Bret Kenwell in Petoskey, Mich. Follow @BretKenwell