Stocks set for a bounce as retail sales, Citigroup lend support

|By:, SA News Editor

Stock futures turn solidly higher after better than expected data from retail sales and earnings from Citigroup that exceeded expectations; S&P and Nasdaq +0.6%, Dow +0.4%.

The late climb in U.S. futures lifts European markets off their lows after sizable losses earlier in the session resulting from a weekend escalation of tensions in Ukraine; Asian markets ended on a mixed note.

The March retail sales data reinforces the notion that soft economic data earlier in the year was attributable to poor weather, and Citi +4% premarket after Q1 earnings and revenue came in ahead of analyst estimates.

Treasurys hold slim losses, with the benchmark 10-year yield up 1 bp at 2.64%.

Still ahead: business inventories.