Jan. 13 (Bloomberg) -- Most U.S. stocks gained for the first time in three days as a rebound in oil prices lifted energy producers and improving credit markets boosted banks, overshadowing concern the profit slump is worsening.
About seven stocks rose for every five that fell on the New York Stock Exchange.
“The stock market is cheap by big-picture standards,” said Jack Ablin, chief investment officer at Harris Private Bank in Chicago, which oversees about $60 billion. “Anyone buying in today has to be looking past the valley and into 2010 and 2011. Credit conditions underneath the surface are improving pretty consistently.”
