Citi Leads The Market To Higher Ground

Citigroup has delighted investors, with the stock ending up with a rise of 3.02%, one of the strongest on the S&P 500, after reporting better results than expected.

Shareholders also welcomed the announcement of the conclusion of the settlement of seven billion dollars to end an investigation into financial products marketed just before the 2008 crisis.

Confirmation of the U.S. economic upturn associated with the publication of results prompting some analysts to be optimistic for the second half of the year. Goldman raised its price target for the S&P 500 to 2,050 against 1,900. Expecting that the yield on 10-year Treasuries (situated around 3%) would be likely to encourage investors seeking higher preferred equity markets returns.

There are the results of Citi are positive, this gives the market a push. Continued activity on M&A is certainly likely to support sentiment and there is now Goldman which raised its target end year for the S&P.

The earnings season will experience a boost this week with the quarterly. No less than 59 companies listed on the S&P 500 will confirm whether or not this trend will continue.

According to data, the returns of S&P 500 should rise by 6.2% in the second quarter, less than the 8.4% growth expected in April.

The publication of the results on Tuesday by JPMorgan, Goldman Sachs or Johnson & Johnson before the opening of Wall Street as well as a series of indicators should give investors clues about the chances of seeing a confirmation of the upward strength.

Investors also expect a response from the president of the Federal Reserve Janet Yellen before Congress, causing a pause on the foreign exchange market where the dollar faded.

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Pete Southern

About Pete Southern

Pete is an active investor with knowledge of all sectors but his first love are IPO's. A failed day trader who now understands research. A love of economics and writing seen Pete begin to publish content for various finance blogs. Our main editor and collator of contributions, he is your point of contact via editorial at stockpricetoday.com

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