Market Insider

Street eyes stock market recovery, bank earnings

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Traders will look for further confirmation Tuesday that the stock market has found its footing, ahead of the first major bank earnings.

"We continue to see the healing of our correction," said Jeff Carbone, co-founder and managing partner of Cornerstone Financial Partners, which has $1.05 billion in assets under management. "Now it's going to be watching the financials and earnings, and if we can see some good beats on the earnings, which we know have been revised down …, we can see this market continue to run up strong."

On Monday, the Nasdaq composite closed up 8 points to 4,838.6, above its 50-day moving average and joining the Dow Jones industrial average and S&P 500 above that technically key level. All three major averages are within 8 percent of their 52-week highs.