Seeking Alpha

Stock futures drift to the opening bell after data, Citi under pressure

Stock futures retreat to their flat lines, failing to hold early gains following upbeat economic data in better than expected jobless claims and an upward revision to Q4 GDP; S&P and Dow flat, Nasdaq -0.1%.

Major European indexes trade mostly lower as investors mull several data points; Asian markets were mixed, with the Shanghai Composite -0.8% while the Nikkei +1%.

The financial sector will be a highlight after the Fed conducted its annual stress tests of large banks, and rejected the capital plans of five banks, including Citigroup. -5.5% premarket.

Treasurys remain slightly lower after the data release, with the benchmark 10-year yield currently hovering ~2.70%.

Still ahead: pending home sales, EIA natural gas.

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