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Citigroup

XM Research

XM Research - 3 months agoBearish

Technical Analysis – Citigroup stock pulls back ahead of earnings

Citigroup shares post 25-month high in 2024 But experience a setback ahead of Q4 earnings on Friday Short-term oscillators soften in overbought territories Citigroup’s stock has been staging a V-shaped recovery since its 2023 bottom in October, posting consecutive multi-month highs. In the near term, the stock posted a fresh 25-month peak of 63.62 one week ahead of Q1 earnings, but quickly retraced lower due to reaching overbought conditions.
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XM Research - 3 months ago

Banks Q1 earnings: Weak results despite stock outperformance – Stock Markets

US banks kick off Q1 earnings on Friday before opening bell Earnings set to drop despite the robust US economy Valuation multiples rise but remain historically cheap   Solid quarter due to Fed repricing The banking sector started the year on the wrong foot as expectations of six rate cuts by the Fed had delivered a strong hit to their net interest margin outlook. This metric is essentially the difference between the interest income generated by long-term assets such as loans an
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XM Research - 6 months agoNeutral

Technical Analysis – Citigroup stock pulls back ahead of earnings

Citigroup shares post 21-month high in 2024 But experience a setback ahead of Q4 earnings on Friday Short-term oscillators exit overbought territories Citigroup’s stock has been staging a V-shaped recovery since its 2023 bottom in October, jumping above a crucial trendline taken from its February peak. Moreover, the price posted a fresh 21-month high of 54.66 in the past week, but quickly retraced lower  due to reaching overbought conditions.
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XM Research - 9 months ago

Bank Q3 earnings could ring recession alarm bells – Stock Market

US banks kick of earnings parade on Friday before market opens Poised for negative results as high interest rates become a headwind Historical low valuations cap downside Banks underperform in 2023 This year started with the best possible omens for banks as they were expected to continue capitalising on higher net interest margins, which are essentially the difference between the interest income generated by long-term assets such as loans and the interest expense paid to short-term
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XM Research - 1 year ago

Will US bank earnings exhibit resilience and shrug off Q1 risks? – Stock Market News

Some of the largest financial institutions in the US will unofficially kickstart the second quarter earnings parade, with JP Morgan Chase, Wells Fargo and Citigroup reporting their financial results on Friday before Wall Street’s opening bell. The banking sector came under pressure in March following the collapse of four regional US banks, but recently regained investors’ trust after most US banking giants aced the Fed’s annual stress tests.
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XM Research - 1 year agoBearish

Technical Analysis – Citigroup stock under increasing bearish pressure

Citigroup is stuck in the middle of the 42.81-53.90 rectangle that has been dominating the price action since March 2022. It is currently below the February 2, 2023 downward sloping trendline and hovering around the various simple moving averages (SMAs) used, pointing to a delicate balance due to increased indecisiveness from market participants. The bears have been more active, but their bearish breakouts have repeatedly failed.
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XM Research - 1 year agoNeutral

Technical Analysis – Citigroup bulls ready to see light at the end of the tunnel?

Citigroup survived the mid-March madness, but it has failed to make sustainable gains despite touching 50.35 on April 19. It is currently hovering below the January 16, 2015 low of 46.65, around 12% lower than the February 2 high and comfortably inside the 42.81-54.30 range that has been dominating the price action since March 2022. It has been a tough period for the bulls, but they could finally see light at the end of the tunnel.
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XM Research - 1 year ago

Daily Market Comment – Recession fears weigh as Fed stays hawkish after poor US retail sales

US retail sales disappoint but Fed does not budge on its hawkish stance Dollar holds firm after Friday’s gains, stocks find some support from strong bank earnings But markets overall steady as busy data and earnings week gets underway Weak data revives recession jitters Recession fears are elevated after retail sales figures out of the United States on Friday pointed to slowing consumer demand in the world’s largest economy.
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XM Research - 1 year ago

Daily Market Comment – Dollar’s woes deepen ahead of US retail sales data, stocks rejoice

US dollar slumps to one-year low as soft data bolsters case for Fed pause Wall Street rallies on Fed bets, but bank earnings pose a downside risk Fed-ECB divergence pushes euro towards $1.11, yen selloff eases Fed pause seen more likely after latest US data batch It’s been another week of underwhelming data releases out of the United States, and after the latest figures on consumer and producer prices added to the softening economic picture highlighted by last week’s ISM PMIs, the
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XM Research - 1 year ago

Daily Market Comment – Dollar slides ahead of US inflation data and Fed minutes

Dollar slides as traders seem reluctant to buy ahead of CPI figures Wall Street mixed ahead of today’s data, bank earnings on Friday Gold climbs back above $2,000 on the back of a weak dollar Bank of Canada decision also on tap US CPI numbers and FOMC minutes enter the spotlight The US dollar traded lower against almost all the other major currencies on Tuesday and continued to underperform on Wednesday as well.
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XM Research - 1 year ago

Can major US banks post solid earnings and restore credibility? – Stock Market News

As usual, the largest US investment banks will unofficially kickstart the first quarter earnings parade, with JP Morgan Chase, Citigroup and Wells Fargo unveiling their financial results on Friday, April 14, before Wall Street’s opening bell. Bank earnings have always been regarded as a proxy for the health of the broader economy, but now their role is magnified following the implosions of three US regional banks in March.
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XM Research - 1 year agoNeutral

Citigroup’s rally appears to have hit a wall at the 47.00 area, with the stock currently hovering below the January 16, 2015 low of 46.65. It has actually been a good period for the bulls since the March 24 downside breakout, which proved short-lived, pushing the stock towards the middle of the year-long rectangle. This 42.81-54.30 range survived the October 2022 downside breakout, revealing an unstable balance among market participants.
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XM Research - 1 year agoNeutral

Technical Analysis – Citigroup tests lower boundary of year-long range

Citigroup is trading very close to the lower boundary of a year-long rectangle. This 42.81-54.30 range survived the October 2022 downside breakout, revealing a precarious balance among market participants. However, the recent developments in the US banking sector appear to have invigorated the stock bears. Citigroup has not recorded a lower low in the current phase, potentially disappointing the bears, but the long-term trend remains bearish.
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XM Research - 2 years ago

US banks kick off a crucial earnings season as macro risks mount – Stock Market News

The biggest US banks will kickstart the third quarter earnings parade, with JP Morgan Chase, Morgan Stanley and Citigroup reporting their financial results on Friday before Wall Street’s opening bell. This earnings season will likely garner a lot of attention as it will assess companies’ resilience amid a continuously deteriorating macro environment, while major US banks’ performance often acts as a proxy for the health of the broader domestic economy.
XM Research - 2 years ago

Technical Analysis – Citigroup stock consolidates ahead of earnings

Citigroup’s stock has been rangebound in the past three weeks after it managed to halt its long-term decline. However, the price is currently trading way beneath both its descending 50- and 200-day simple moving averages (SMAs), painting a gloomy technical picture for the stock. The momentum indicators are endorsing a bearish near-term bias. The stochastic oscillator is pointing downwards after posting a bearish cross, while the RSI is flatlining below its 50-neutral threshold.
XM Research - 2 years ago

Major US banks kick off Q2 earnings season amid intensifying recession concerns – Stock Market News

As usual, the biggest US banks will unofficially kick-start the second quarter earnings parade, with JP Morgan Chase and Morgan Stanley reporting their financial results on Thursday before Wall Street’s opening bell, followed by Citigroup and Wells Fargo at the same time on Friday. This earnings season will gather a lot of attention as it will assess companies’ performance amid a continuously deteriorating macro environment, which has driven stock markets lower.
XM Research - 2 years ago

Daily Market Comment – Euro gets knocked down by ECB, dollar edges up in thin holiday trade

ECB leaves forward guidance unchanged, euro gets hung out to dry Stocks struggle, dollar resumes uptrend amid lack of fresh drivers during Easter weekend Oil heads higher on reports EU will phase out Russian imports Euro sinks to 2-year low after ECB inaction The European Central Bank kept worries of burgeoning inflation aside on Thursday as it reiterated its previous forward guidance that asset purchases will end at some point in the third quarter, while providing no precise timeline
XM Research - 2 years ago

US major banks are poised for a solid year-end, posting robust Q4 earnings – Stock Market News

The biggest US banks will kickstart the earnings season for the last quarter of 2021, with JP Morgan Chase, Wells Fargo and Citigroup reporting their financial results on Friday before Wall Street’s opening bell. The banking behemoths are expected to close the year on the front foot, capitalizing on the elevated investment banking fees and the significant progress in the reduction of non-performing loans (NPLs) during the pandemic.
XM Research - 3 years ago

JPMorgan beats profit expectations, banking sector could hold resilient – Stock Market News

As usual, the earnings parade starts with the biggest US banks. Following an encouraging release from JPMorgan, the focus will turn to Bank of America, Citigroup and Wells Fargo on Thursday, and Goldman Sachs on Friday. The lacklustre growth in profits in the first half of the year is expected to cool down further and a more careful guidance could press sentiment, though the macroeconomic outlook will probably remain favourable for the banking sector, maintaining support under the 2021 stock ral
XM Research - 3 years ago

Daily Market Comment – US CPI spikes again, dollar rallies; kiwi surges too after RBNZ ends QE

US inflation jumps again, sending stocks spinning and dollar and yields flying RBNZ shocks by halting bond purchases, kiwi soars as August rate hike eyed Powell testimony in the spotlight as Fed’s patience put to the test Markets settle down after another CPI shock Annual inflation in the United States hit a fresh 13-year high of 5.4% in June, surpassing the top estimates and casting doubt on the Fed’s narrative that this inflationary episode will be transitory.

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