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Upbeat retail sales data, Citigroup earnings lift stocks

  • Stocks posted solid gains as robust U.S. retail sales data signaled economic growth after being bogged down in Q1 due to harsh weather, overriding concerns about rising instability in Ukraine.
  • Citigroup's better than expected Q1 earnings lifted its shares and the financial sector, helping overall sentiment at the open.
  • The Nasdaq regained its positive footing, even as many momentum stocks that have been hit hard in recent weeks fell after a morning rally; the tech sector held up fairly well but ended below session highs, while in a roller-coaster ride, the Nasdaq biotech index gained as much as 2.7% early, then swooned 1.1%, and finally ended flat.
  • The dollar rose vs. other major currencies, while Treasurys posted slim losses, sending the benchmark 10-year yield higher by one basis point to 2.64%.
  • Participation was below average, as fewer than 680M shares changed hands on the NYSE.
Comments (5)
  • wapiti
    , contributor
    Comments (711) | Send Message
     
    The PPT under Yellen has regained its footing. Nothing like the FED to come in and make sure all the averages didn't break their 200 DMA. BS rigged markets
    14 Apr 2014, 04:28 PM Reply Like
  • mobyss
    , contributor
    Comments (2143) | Send Message
     
    No, no man - you've got it wrong...

     

    You see, that was small retail investors who evaluated the financial strengths of individual companies and decided on their own to invest in the markets for the long haul, based on fundamentals.

     

    It was just a coincidence, really just a fluke, that they all started buying heavily at exactly 3:15PM right after the deep plunge of the day and just kept on buying hand over fist right into the close.

     

    The PPT? Fed intervention? That doesn't exist - at least that's what they tell me.
    14 Apr 2014, 05:37 PM Reply Like
  • Archman Investor
    , contributor
    Comments (2569) | Send Message
     
    Yes.
    At 3:35 markets go from 0% gain for the day to 1% gain by 4:00 pm

     

    Comical.
    14 Apr 2014, 05:34 PM Reply Like
  • liquidly long
    , contributor
    Comments (4) | Send Message
     
    The 200dma for the Russell 2000 saved the day for the longs. What a spectacular buy program off the key support.
    14 Apr 2014, 05:44 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (11423) | Send Message
     
    "solid gains as robust U.S. retail sales data signaled economic growth", What rubbish. No wonder the market traded the market rise down on the news until the hail Mary save.
    15 Apr 2014, 01:07 AM Reply Like
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