Citigroup's stock jumps toward an 18-year high after earnings, boosted by record M&A fees

Citigroup shares rallied in early Tuesday trading after the bank reported a big first-quarter earnings beat, supported by strong investment-banking revenue and continued market strength. The results point to solid underlying fundamentals for Citi and broader banking sector sensitivity to capital-markets activity. The move is likely to influence Citi's stock more than the broader market.

Analysis

Citigroup shares rallied in early Tuesday trading after the bank reported a big first-quarter earnings beat, supported by strong investment-banking revenue and continued market strength. The results point to solid underlying fundamentals for Citi and broader banking sector sensitivity to capital-markets activity. The move is likely to influence Citi's stock more than the broader market.