Investors erase much of yesterday's selloff as bank stocks soar

Stocks rebounded today after Treasury Secretary Tim Geithner's assertion that most banks have enough capital to weather the recession helped convince investors they overreacted during yesterday's big sell-off. The Dow Jones Industrial Average leaped 128 points, or 1.6 percent, to close at 7,970.

Not surprisingly, Geithner's comments gave the biggest boost to financial stocks, with Bank of America (BAC), Citigroup (C) and JPMorgan Chase (JPM) all climbing at least 9 percent during today's session.

For more on stocks making news, be sure to check out BloggingStocks' wrap up of today's session.