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Citigroup

By jerald29 on
Citigroup, U.S. stocks, rose led by financial stocks after earnings from Citigroup Inc. exceeded estimates and an unexpected drop in industrial production added to signs the Federal Reserve will buy more assets to power recovery. Citigroup, the bank 12 percent owned by U.S. taxpayers, increased by 3.3 per cent, resulting in a measure of financial companies for the biggest gain in the Standard & Poor's 500 Index. Hasbro Inc., Toy Company second in the world, rose 6.2 percent after reporting higher earnings than originally estimated that sales of products acquired preschool. Halliburton Co., the second largest global provider of tankers, slumped 5.1 percent after third quarter earnings missed estimates by some analysts. The S & P 500 rose 0.4 percent to 1181.04 at 10:18 in New York. The gauge rallied last week after Fed Chairman Ben S. Bernanke said the economy may need more stimulation and earnings boosted investor confidence.
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