Foreign Corrupt Practices Act

Stocks reverse recent losses as bank shares jump

Stocks reverse recent losses as bank shares jump

U.S. stocks climbed Friday as banks made a rapid recovery from their steep fall a day earlier. Investors hoped Deutsche Bank and the financial system in general were in better shape than they had feared.

Banks made the biggest gains Friday as Germany's largest bank tried to reassure investors about its financial health. Investors hope Deutsche Bank will be able to negotiate down the massive cost of settling a U.S. investigation into mortgage securities. Energy companies rose as the price of oil continued to move higher, and strong earnings from Costco sent consumer stocks up.

San Jose cloud computing company Nutanix skyrocketed in its first day of public trading, rising 131%...