U.S. Stocks Climb on Bank Earnings; Oil Above $50

U.S. stocks gained steam on Friday, buoyed by better-than-expected bank earnings and higher oil prices. Wells Fargo (WFC) - Get Report 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) - Get Report 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) - Get Report suffered from a computer glitch which delayed departures overnight. The airline said the problem has been fixed. Back in August, Delta Air Lines (DAL) - Get Report experienced a similar hiccup. TheStreet's Scott Gamm reports from Wall Street.