U.S. Stocks Slip on China Worries; Citigroup Beats Estimates

U.S. stocks lost steam on Friday morning as China's economy slowed during first quarter. China's GDP rose 6.7 percent, in line with economists' estimates, but was below the 6.9 percent growth seen during 2015.
Meanwhile, Citigroup (C) - Get Report reported first quarter net income of $1.10 a share, beating estimates of $1.03 a share. Profit fell 27 percent year-over-year to $3.5 billion on the back of a drop in investment banking and trading revenue. Finally, Amazon (AMZN) - Get Report is on Morgan Stanley's list of stocks to buy before earnings season. The firm has an $800 a share price target, implying a 29 percent upside from its current level of $620 a share. TheStreet's Scott Gamm reports from Wall Street.