The Dow Jones industrial average (INDU) added 50 points, or 0.4%. The broad S&P 500 (SPX) index edged up nearly 2 points, or 0.1%. The Nasdaq (COMP), a proxy for the technology sector, added 10 points, or 0.4%.
"It may be that the stock was oversold enough for it to rally back, despite the disappointing news," said Bruce McCain, chief investment strategist at Key Private Bank.
"Investor sentiment is extremely positive right now," said McCain. "And that's a risky time for the market."
He said any improvement in corporate earnings or economic data will likely have a "muted effect" on stocks, while negative surprises "can torpedo the market."
Looking ahead, quarterly reports are due early Wednesday from Goldman Sachs and Wells Fargo. Investors will also take in the latest readings on housing starts and building permits before the market opens.
While Citi's quarterly earnings disappointed, many other companies are on deck to report results this week -- and Winmill said he is bullish about the quarter.
"I think overall we'll see earnings come in this quarter as they did in the prior quarter, with companies continuing to surprise on the upside," he said.
The dollar lost ground against the euro, the Japanese yen and the British pound.
A stronger-than-expected report on GDP from Germany gave the euro a boost in early trading and helped lift European markets, Winmill said.
Oil for February delivery fell 22 cents to $91.32 a barrel.
Gold futures for February delivery added $7.70 to settle at $1,368.20 an ounce.
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