The Lowdown

Stocks bounced back Tuesday, buoyed by widespread gains in European markets. Traders returned to equities on mounting hopes that the European Union might be considering a rescue package for struggling Greece.

The Dow Jones Industrial Average ended up 150 points at 10059, off its pre-selloff peak but still a healthy rebound. The S&P 500 advanced 14 points to 1071, and the Nasdaq gained 25 points at 2151.

Those gains came after a rough session. On Monday, the Dow Jones Industrial Average finished below the 10000 mark for the first time since early November, losing more than 1%. The S&P 500 fell 0.9%.

Rising hopes that the European Union might be considering a rescue package for struggling Greece helped push European markets and the euro higher Tuesday. Expectations of a bailout gained weight since it emerged late Monday that European Central Bank President Jean-Claude Trichet planned to leave an event in Australia earlier than planned to attend a European Union Council meeting Thursday.

Crude prices inched higher, trading up $2.07 at $73.96 on the Nymex.

Asian markets ended mostly higher on Tuesday.

The federal government is proposing a ban on banks' ability to invest in private equity deals, which could affect Goldman Sachs $14 billion portfolio of real estate and private equity holdings.

In stocks, UBS fell after returning to a profit in the fourth quarter but reporting widening outflows. Molson Coors Brewing fourth-quarter profit more than doubled amid tax benefits, while sales volume declined in a tough sales environment for beer makers. Coca-Cola topped Wall Street's estimates for revenue, while earnings matched expectations.

In economic news, wholesale inventories data for December were shown to have taken an unexpected 0.8% drop in December, while sales rose 0.8%, according to the Commerce Department.

For a detailed rundown on Tuesday s trading session see our market story.

Winners

The Market Vectors Junior Gold Miners fund saw a healthy 5.4% pop on rising gold prices. The iShares MSCI Sweden Index fund, unusually enough, was the biggest beneficiary of renewed enthusiasm for European names, with shares rising 5.3%.

Losers

Another big market swing put the S&P 500 VIX Short-Term Futures Index fund among the biggest decliners of unleveraged funds, as its shares shed 3.0%. The stampede back to equities dropped shares of the iShares Barclays 20+ Year Treasury Bond fund by 1.0%.

Tuesday s Industry Headlines

Data Point

State Street reported that U.S. ETF industry assets totaled $730 billion as of Jan. 31, representing a $45 billion, or 5.8% loss for the month. Those 840 funds are run by 31 managers, and the total number of funds increased from 819 the previous month.

Launching Pad

FactorShares has filed requests with the Securities and Exchange Commission to launch a family of six leveraged exchange traded funds that will make amplified bets on spreads between two indexes, the S&P 500 and another. The proposed funds are the FactorShares S&P 2x U.S. Equity Premium, FactorShares S&P 2x U.S. Anti-Equity Premium, FactorShares S&P 2x U.S. Equity Anti-U.S. Dollar, FactorShares S&P GSCI 2x Crude Oil Premium and FactorShares S&P GSCI 2x Gold Premium. The commodity funds will go long on the commodity and short the S&P 500. Each carries an annual expense ratio of 0.75% and with additional expenses could cost as much as 1.34%.

Wednesday s Notebook

Earnings and Conference Calls

ACCO, Activision Blizzard, Allstate, Amerigon, Amkor Technology, AptarGroup, ArcelorMittal, Asure Software, Baldwin Technology, BHP Billiton, BioClinica, BioMed Realty Trust, BioSphere Medical, Boston Scientific, CAE, Cambrex, China Digital TV Holding, Coca-Cola Enterprises, Computer Sciences, comScore, Core Laboratories, Corporate Office Properties Trust, CPI International, Crown Crafts, Dean Foods, Deltek, Discovery Communications, EastGroup, Echelon, Edgar Online, Education Management, Elan, eLoyalty, Equinix, Everest Re Group, FBR Capital Markets, Forrester Research, GLU Mobile, GSI Commerce, Highwoods Properties, HNI, Hudson Highland, Infinity Pharmaceuticals, Insight Enterprises, Jones Apparel Group, L-1 Identity Solutions, Lance, Level 3 Communications, Lionbridge Technologies, LivePerson, Longtop Financial Technologoies, Louisiana-Pacific, Lyris, Marsh & McLennan Companies, Masco, Medtox, Mercer International, Millicom International, National Research, Net Servi os de Comunica o, Netsol Technologies, NeuroMetrix, New York Times, NIS Group, Omnicom Group, OraSure Technologies,Orckit Communications, PartnerRe, PDF Solutions, Penn Virginia, Penn Virginia GP Holdings, Penn Virginia Resources, Petrobras Energ a Participaciones, Plains All American Pipeline, Protective Life, Prudential Financial, Rentech, Sanofi-Aventis, Schweitzer-Mauduit International, Scripps Networks Interactive, Select Comfort, Sierra Wireless, Sigma-Aldrich, Sonoco Products, Sprint Nextel, Support.com, Symetra Financial, Taleo, Torchmark, Transatlantic Holdings, TransDigm Group, Vale, Wright Express, Wyndham Worldwide

Economic Data

7:00 a.m. MBA Purchase Applications
8:30 a.m. International Trade
10:30 a.m. EIA Petroleum Status Report
2:00 p.m. Treasury Budget