Robust Earnings Boost Investors’ Confidence Stocks rallied on Friday after a fresh set of quarterly reports from two banks, Wells Fargo & Company WFC and Citigroup Inc. C gave investors further insight into the current state of the economy. Wells Fargo & Company (WFC): Free Stock Analysis Report U.S. stocks rallied on Friday to close sharply higher as upbeat earnings and strong economic data gave investors’ confidence a boost and also eased fears of a 100 basis point rate hike by the Fed as concerns over surging inflation somewhat waned.