The Standard & Poor 500 Index gained, following
the worst week since 2012, after Citigroup Inc. earnings beat estimates
and U.S. retail sales increased more than forecast. Treasuries fell
with the ruble and commodities rose amid worsening violence in Ukraine.
The S&P 500 gained 1 percent to 1,833.55 at
12:41 p.m. in New York, after last week 2.7 percent loss, as Citigroup
jumped 4.4 percent. The 10-year Treasury yield rose two basis points to
2.65 percent. The Stoxx Europe 600 Index added 0.3 percent, erasing
earlier declines. The ruble slid 0.8 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 3.3 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.
Copy Source : Bloomberg
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