After a week of selling off, Wall Street is back in the green in large part due to Citigroup earning and Commerce Department data from retail sales.
The Commerce Department said Monday retail sales in March rose 1.1 percent in the month of March, which was its largest increase since September 2012, beating Wall Street’s estimates of 0.8 percent. Excluding the auto segment, sales rose 0.7 percent, beating estimates of a 0.5 percent gain.
While JPMorgan may have firm-specific problems, which we examined this past weekend, Citigroup posted better-than-expected first-quarter, after releasing a plan that failed the Federal Reserve’s stress tests.
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