Bullish mood lifts Citigroup to session high of $44.65

Published: May 26 2023, 23:21 GMT+0

Bullish mood lifts Citigroup to session high of $44.65

A quick look at today: the mega US bank went up to $44.6, gaining 0.84%.

Citigroup's uptick comes amid disappointing United States macroeconomic data released during the session – following a previous reading of 0.3%, Core Durable Goods Orders in United States released today at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%. Highly important Pending Home Sales data from United States beat analyst expectations of 0.5% with a reading of 0%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released today at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3.

This rally in Citigroup's share price coincided with other financials stocks as American Express traded at $157.24 after closing today's trading day at $151.08 (up 4.08%). Goldman Sachs was up 2.51%. The Blackstone Group Inc. was up 2.6%.

Trending downwards for around a month. The mega US bank has shed 11.72% over the past three months.