US stocks rebounded and closed higher for the second straight day, yesterday, on the back of better-than-expected economic data. Stocks also gained after reports that European officials were looking at a joint effort to back the region's embattled banks and stem the damage to Europe's financial system in the event of a Greek default. The Dow Jones Industrial Average rose 131 points or 1.2%, to 10,940. The Nasdaq Composite index gained 56 points or 2.3%, to 2,461. The S&P 500 gained 20 points, or 1.8%, to 1,144.In economic news, an ADP Employment Change report showed that private payrolls increased by 91,000, beating the consensus call for an increase of 45,000. ISM said its services index slipped to a reading of 53% in September, from 53.3% in August. But the index beat a forecast of 52.7%.