Stocks Jump On Citi Earnings, Strong Retails Sales Data
Citigroup reported net income for the first quarter of $3.9 billion, or $1.23 a share, beating expectations for $1.14 a share, while U.S. retail sales increased 1.1% in March to $433.9 billion.
U.S. stocks gained Monday after data showed retail sales increased the most since 2012 and Citigroup earnings jumped unexpectedly. Citigroup reported net income for the first quarter of $3.9 billion, or $1.23 a share, beating expectations for $1.14 a share. U.S. retail sales increased 1.1% in March to $433.9 billion, the strongest result in one and half years. The Ukrainian government gave pro-Russian activists a Monday morning deadline - which has passed - to disarm or face military action.
