The Globe and Mail reports in its Tuesday edition that Wall Street rallied on Monday, kicking off what promises to be a hectic week that includes a heavy earnings docket, economic data and the Federal Reserve's two-day monetary policy meeting. A Reuters dispatch to The Globe says that all three major U.S. stock indexes closed up more than 1 per cent, bouncing back from the previous week's sell-off. Interest-rate-sensitive megacap stocks, led by Microsoft, Amazon, and Apple provided the most upside muscle. Toronto also closed higher, snapping an eight-day losing streak, although a sharp decline in the materials sector meant less robust gains. "Today is an earnings rebound," said Oliver Pursche at Wealthspire Advisors, in New York. "The market got oversold, and the reality is that earnings have been pretty good, the U.S. economy continues to chug along, and is likely to do so in the fourth quarter and into the first part of next year." Third-quarter earnings season has reached its halfway point, with 251 of the companies in the S&P 500 having reported. Of those, 78 per cent have beaten Wall Street estimates. The S&P/TSX Composite Index ended up 119.37 points at 18,856.76, bouncing off Friday's 52-week low.