Stocks Rise on Strong Bank Earnings Despite Drop in Consumer Sentiment

Stocks open higher after strong bank earnings from JPMorgan, Wells Fargo, and Citigroup. Consumer sentiment falls more than expected in October.

Dollar General stock surges as former CEO returns to lead company. Discount retailer faces challenges with shares down 55% in 2022.

Consumer sentiment declines sharply in October on inflation concerns. University of Michigan index falls to 63 from 68.1 in September.

Philadelphia Fed President says rates can remain steady as hikes take time to curb inflation. Comments boost stocks as traders price in Fed pause in November.

Oil prices climb on worries over Middle East conflict escalation. Energy stocks gain in premarket on supply concerns amid Israel-Hamas tensions.