This Day On The Street
Continue to site
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

Markets Close Higher on Robust Retail Sales, Citigroup Beat

NEW YORK (TheStreet) -- Major U.S. stock markets were rising Monday after stronger-than-expected results from Citigroup (C), while retail sales beat expectations.

The Dow Jones Industrial Average closed 0.91% higher to 16,173.24 while the S&P 500 gained 0.82% to 1,830.61. The Nasdaq added 1.57% to 4,022.69.

  • 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. The gain last month was the largest since September 2012. Sales rose by an upwardly revised 0.7% in February, compared with previous estimate of a 0.3% gain.
  • Edward Life Sciences (EW - Get Report) added 11% after the company won a court ruling to limit sales of a rival's products. Herbalife (HLF) bounced back 4.4%, recovering from a steep selloff Friday on rumors the company is being investigated by the Federal Bureau of Investigation and Department of Justice after accusations of illegal sales practices. The company responded saying that it has not received any formal or informal request for information from either agency. Visa (V - Get Report) gained more than 2% in the Dow after the stock was upgraded to "outperform" from "neutral" at Robert W. Baird. MasterCard (MA) advanced more than 3.5% after also being raised to "outperform" by Baird analysts. Other stocks set to report this week include Coca-Cola (KO), IBM (IBM) Goldman Sachs (GS), Yahoo! (YHOO) and General Electric (GE).
  • Google (GOOG), also set to report this week, announced it has acquired solar-powered drone maker Titan Aerospace for an undisclosed amount. The company was rumored to have been involved in acquisition talks with Facebook (FB)
  • 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.
  • In international markets, the Hang Seng closed 0.15% higher while the Nikkei shed 0.36%. Germany's DAX rose 0.26% and the U.K. FTSE was 0.34% higher.
  • Lackluster results from JPMorgan (JPM) on Friday and ongoing selling in technology shares contributed to a 1% fall in the S&P 500.

WATCH: More market update videos on TheStreet TV

-- By Andrea Tse and 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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
EW $76.34 -0.82%
V $68.33 0.83%
AAPL $94.99 -0.02%
FB $99.54 -0.21%
GOOG $678.11 -0.68%


Chart of I:DJI
DOW 16,014.38 -12.67 -0.08%
S&P 500 1,852.21 -1.23 -0.07%
NASDAQ 4,268.7630 -14.99 -0.35%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs