The October rebound in global equities resumed, with U.S. stocks rising to a eight-week high amid bank earnings and growing speculation the Federal Reserve will delay raising interest rates until 2016. Treasuries fell and gold erased its loss for the year.

The Standard & Poor's 500 Index jumped the most in 10 days with gains in the nation's largest financial firms leading equities higher after two days of declines. Economic data from Group of 10 nations are missing analysts' estimates by the most in four months, fueling bets the Fed will delay raising interest rates until next year.

The probability of a Fed interest rate increase by the December policy meeting has dropped to 30 percent, down from 70 percent at the start of August, according to futures data compiled by Bloomberg. The slide worsened even after a gauge of U.S. core consumer prices advanced more than projected in September, while hiring data provided evidence of labor-market resiliency

Financial shares paced gains with a 2.3 percent rally. Goldman Sachs Group Inc. added 3 percent even as third-quarter profit missed analysts' estimates as the global market turmoil took a bigger toll on its trading revenue than at rivals. Citigroup Inc. gained 4.4 percent as profit beat estimates.

The S&P 500 has jumped 8.4 percent from the depths of its August selloff, though it remains 5 percent below its all-time high set in May. The gauge has rallied as a weakening dollar bolsters the prospects for American companies that do business overseas, while speculation intensifies that rates will remain lower for longer.