US STOCKS-Futures point to higher open, Citigroup gains
October 16, 2012 Leave a Comment
* Banks to be in focus as Citigroup reports results
* S&P coming off worst week since June on bearish earnings
* Futures bolstered by hopes of Spain asking for aid
* Futures up: Dow 46 pts, S&P 6.7 pts, Nasdaq 17 pts
By Ryan Vlastelica
NEW YORK, Oct 15 (Reuters) – U.S. stock index futures pointed to a higher open on Monday as Citigroup climbed following its earnings results and strong retail sales data further lifted sentiment.
Growing hopes that Spain would soon request a bailout also lifted sentiment, indicating a rebound from last week, which was the S&P’s worst since June. Spain officially asking for aid is seen as a necessary step for dealing with the region’s debt crisis.
Citigroup Inc rose 2.4 percent to $35.59 in premarket trading after posting adjusted earnings that surged from the prior year and beat expectations. The growth came as mortgage lending increased and capital markets results rebounded.