US STOCKS-Wall St rises on Citi earnings, data; eyes on Ukraine

lunes 14 de abril de 2014 13:11 GYT
 

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

* Brent crude prices jump; energy stocks follow

* Dow up 0.9 pct; S&P 500 up 0.9 pct; Nasdaq up 1 pct (Updates to midday)

By Rodrigo Campos

NEW YORK, April 14 (Reuters) - U.S. stocks rebounded on Monday, following a sharp selloff in the previous session, with Citigroup's earnings and retail sales lifting sentiment while traders kept tabs on the possible escalation of hostilities in Ukraine.

Citigroup shares led the financial sector higher after the bank said its quarterly net profit rose because of a smaller loss on its troubled assets. The stock rose 4.6 percent to $47.78. The S&P financial index gained 0.8 percent.

"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 of Harbor Advisory Corp in Portsmouth, New Hampshire.

Futures had gained earlier after data showed U.S. retail sales recorded their largest increase in 1-1/2 years in March, in the latest sign that 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...