US stocks rise; Citigroup sinks

Written By Unknown on Selasa, 16 Oktober 2012 | 22.34

CITIGROUP shares fell 0.3 per cent to $36.55 on Tuesday as US markets opened after the shock resignations of chief executive Vikram Pandit and chief operating officer John Havens for unexplained reasons.

But US stocks were generally higher following widespread gains in European and Asian markets and better-than-expected earnings from Johnson & Johnson and Goldman Sachs.

Five minutes into trade, the Dow Jones Industrial Average was up 54.98 points (0.41 per cent) to 13,479.21.

The broad-based S&P 500 rose 5.96 points (0.41 per cent) to 1446.09, while the tech-rich Nasdaq added 8.93 points (0.29 per cent) at 3073.11.


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