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Saturday, January 22, 2022
HomeNewsEconomyCitigroup And Retail Sales Data Push Wall Street Back In The Green

Citigroup And Retail Sales Data Push Wall Street Back In The Green

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.

 

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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