The Standard & Poor 500 Index rebounded from
the worst weekly loss in two years, weathering a selloff in the final
hour, after retail sales rose the most since 2012 and Citigroup Inc.™s
earnings unexpectedly rose. Treasuries fell with the ruble and
commodities advanced on concern the situation in Ukraine is worsening.
The S&P 500 gained 0.8 percent to 1,830.61 at 4
p.m. in New York, after briefly erasing gains in the final hour.
Citigroup jumped 4.4 percent. The 10-year Treasury yield rose two basis
points to 2.64 percent. The ruble slid 0.9 percent against the dollar
after clashes between Ukrainian forces and pro-Russian gunmen turned
deadly. The S&P GSCI gauge of 24 raw materials rose 0.9 percent to
the highest level since March 4. Palladium advanced to the highest since
August 2011, wheat rallied 2.8 percent and nickel jumped to the highest
since February 2013.
Citigroup, the third-biggest U.S. bank, reported an
unexpected profit increase in the first quarter after disappointing
results from JPMorgan Chase & Co. and a selloff in technology stocks
sent the S&P 500 to its biggest weekly loss since June 2012. Retail
sales increased in March by the most since September 2012, Commerce
Department figures showed. European officials weighed expanding
sanctions against Russia over Ukraine
Copy Source: Bloomberg
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