U.S. stocks closed higher today for a second consecutive day as solid quarterly results from Goldman Sachs calmed some worries of a weak earnings season. Goldman gained after reporting a smaller than estimated dip in quarterly profit as a boost in net interest income mellowed the blow from a slowdown in investment banking.  

The investment bank, which is restructuring its business into three groups, massively closed out earnings from major financial companies on a largely positive note. Even though numerous lenders raised the loan loss provisions in anticipation of difficult times ahead.  

The S&P 500 rose 1.1%, the Dow Jones was up 1.1% and the Nasdaq gained 0.83%. 

Additionally, economic data released today suggested the manufacturing sector continues on a reasonable route despite the Fed’s efforts. However, they do seem to weigh on the housing market.  

Over in the UK, the finance minister’s decision to reverse the mini-budget has led to investors reassessing the outlook for UK interest rates, as a result the pound declined 0.4% on the day. The Bank of England has announced that it would proceed with plans to start selling some of its ramped-up stock of government bonds with the first sale due on the 1st of November. A day later than initially planned to avoid the clash with the government's fiscal statement.   

Earnings reports: