Citigroup up 13% ahead of big bank earnings, pivotal CPI data
Citigroup (C) saw a 13% increase on Wall Street as bank earnings loomed, with key economic data on the horizon. The S&P 500 traded flat at 7,807 (-0.06%) on Monday, while the Dow Jones Industrial Average gained 0.38%, and chipmakers continued their downward trend for a fifth consecutive day. Citigroup, part of the Financial Fortresses AI strategy, rallied 3.9% this month, edging close to its 52-week high of $135.29.
The bank has beaten earnings estimates in four straight quarters, with full-year 2026 EPS projected to jump 33.25% to $10.62. Despite a tough year for financials, signs suggest a potential turnaround for Citigroup. Analysts anticipate earnings per share of $2.65 on approximately $23.7 billion in revenue, calling for a 17% year-over-year earnings growth.
The 10-year Treasury yield stands near 5.23%-5.24%, close to a 24-year high, following a surprise Fed rate hike in September, raising concerns for growth stocks. Upcoming CPI data on Wednesday may impact the market, as inflation remains a hot topic.
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