US STOCKS-Citi earnings, data lift Wall Street; eyes on Ukraine

lunes 14 de abril de 2014 10:35 GYT

* U.S. retail sales post biggest gain in 1-1/2 years

* Ukraine's acting president threatens military action

* Indexes up: Dow 0.45 pct, S&P 0.55 pct, Nasdaq 0.46 pct (Updates to morning trading, adds comment)

By Rodrigo Campos

NEW YORK, April 14 (Reuters) - U.S. stocks bounced back on Monday, following a sharp selloff last session, with earnings results from Citigroup and retail sales data lifting sentiment while traders kept tabs on the possible escalation of hostilities in Ukraine.

Financial stocks were among the largest gainers after Citi said its quarterly net profit rose as a smaller loss on its troubled assets made up for a drop in revenue and profit from its core trading and lending businesses. Citi shares added 4.4 percent to $47.69.

"This is a reflex rally, we're bouncing back probably on Citi. It's the first kind of OK news on banks we get in a couple of weeks," said Jack de Gan, chief investment officer at Harbor Advisory Corp in Portsmouth, New Hampshire.

Futures had gained earlier after data showed U.S. retail sales recorded their largest gain in 1-1/2 years in March, in the latest sign the economy was emerging from its weather-induced slumber.

"People are trying to figure out how much of the (recent data) weakness was weather related," De Gan said. "When you see pent-up spending like this it validates the idea it was because of the weather."   Continuación...