This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Market Hustle: Stock Futures Higher After Strong Citigroup Earnings, Better Retail Sales

NEW YORK (TheStreet) -- Stock futures were rising Monday after stronger-than-expected results from Citigroup (C - Get Report), while retail sales beat expectations. Citigroup shares were up more than 3% in premarket trading after it topped net income expectations for the first quarter.

Futures for the Dow Jones Industrial Average were rising 69.00 to 16,050 while futures for the S&P 500 were 9.75 higher to 1821.5. Futures for the Nasdaq were 19.80 higher to 3,463.8.

  • Citigroup reported net income for the first quarter of $3.9 billion, or $1.23 a share, on revenue of $20.1 billion. Adjusted earnings were $1.30 a share. Analysts were expecting $1.14 a share.
  • U.S. retail sales increased 1.1% in March to a seasonally adjusted $433.9 billion, the Commerce Department said Monday. This was the largest gain since September 2012 while sales rose by an upwardly revised 0.7% in February, compared with previous estimate of a 0.3% gain. 
  • Pro-Russian activists have moved further across eastern Ukraine, causing the government to mobilize the military. On Sunday, Russia spoke against the "use of harsh violence against protesters" by Kiev and called a session of the United Nations Security Council, where the U.S. and Russia accused each other of meddling in Ukraine's affairs. The Ukrainian government gave pro-Russian activists a Monday morning deadline -- which has passed -- to disarm or face military action.
  • On the economic calendar, retail sales are due at 8.30 a.m. EDT with a rise of 0.9% expected in March against a 0.3% gain in February. Better auto sales are forecast to boost the March result.
  • In international markets, the Hang Seng closed 0.15% higher while the Nikkei shed 0.36%. Germany's DAX was falling 0.54% while the U.K. FTSE was 0.32% lower.
  • Other stocks expected to see price action include Herbalife (HLF - Get Report) following reports that the company is under investigation by the Federal Bureau of Investigation and the Department of Justice. The company is accused of being a pyramid scheme by hedge fund manager Bill Ackman. M&T Bank (MTB) is expected to post first-quarter earnings of $1.61 a share.
  • Lackluster results from JPMorgan (JPM) on Friday and ongoing selling in technology shares contributed to a 1% fall in the S&P 500.

-- By Jane Searle in New York

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
C $54.55 0.00%
HLF $51.72 0.00%
AAPL $131.78 0.00%
FB $80.14 0.00%
GOOG $539.78 0.00%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs