Investors returned to the market in fine spirits after U.S. exchanges were closed in observance of Martin Luther King Jr. Day. Major indices posted greater than 1% gains despite what appeared to be a disappointing earnings report from Citigroup Inc. (C).

The Dow Jones rallied 1.1% at 10,725.43, the S&P 500 climbed 1.2% at 1,150.23, and the tech-heavy NASDAQ added 1.4% to finish at 2,320.40 to start the week.

The market shrugged off a report that Citigroup recorded a net loss of $7.58B for Q4 as consumers struggle to repay outstanding bank loans. The bank did note that $6.2B of the quarterly loss was directly related to paying back $20B of the $45B received in federal aid last year.

Despite the quarterly loss, shares of Citigroup finished the day in the green, adding $0.12, or 3.5%, to conclude the session at $3.54 per share.

Investors were buoyed by Kraft Foods Inc. (KFT) deal to finally purchase Cadbury PLC. Kraft sweetened their offer to $13.78 per share for Cadbury – the maker of Crème Eggs and Dentyne chewing gum – to form what will now be the world’s largest chocolate maker. The deal is estimated to be worth $19.5B.

Shares of Cadbury slipped in trading on the London Stock Exchange, falling just over 1.4%, but managed to jump more than 6% on the NYSE at $55.09 per share. Kraft’s stock retreated by the close, falling nearly 1%, or $0.17, to end the day at $29.41 per share.

The only economic data released at the start of the trading week was the Treasury Department’s report showing global demand for long-term U.S. assets increased in November marking its largest jump since October 2007. Foreign investment in domestic debt assets came in at $126.8B despite China reducing their debt holdings by $9.3B.

On the commodity front, the price of oil slipped throughout Tuesday’s trading. Prices were kept in check by an uptick in the value of the dollar, along with crude inventories remaining at elevated levels. By late afternoon, the price for a barrel of light, sweet crude for February delivery was $79.02 per barrel. The January contract ended its trading on Friday, closing at $78 per barrel.

Looking ahead, this data-light week features the Philadelphia Fed report for January, Building Permits, Housing Starts, PPI, Core PPI and the Leading Indicators reports for December, along with weekly results for Initial Claims and Crude Inventories.