First quarter earnings from US banking giant Citigroup were better than expected as the company earned $1.29 per share from continuing operations compared to the $1.17 consensus.
The bottom line was also strong with $20.88 billion in revenue versus $20.17 billion expected.
Financial sector earnings drove the entire market in the financial crisis but they’re much less of a factor now. Still, it’s a modest positive for risk appetite on a day when the bulls don’t have much to cling to. Stock futures a touch better following the numbers but S&P 500 futures still down 6.5 points.