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Why Citigroup Was Up 6.8% Today

TheMotleyFool

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Why Citigroup Was Up 6.8% Today: https://g.foolcdn.com/editorial/images/708941/a-retiree-smiling.jpg

Citigroup (NYSE: C) finished the day up 6.8%, closing at $48.44 per share on what was a great day for the stock market.

The Dow Jones Industrial Average ended the day up 1,201 points (3.7%), while the S&P 500 spiked 208 points (5.5%) and the Nasdaq gained 761 points (7.4%). It was the best day for the Nasdaq since April 2020.

The wild market ride on Thursday was driven by a strong inflation report for October as the Consumer Price Index (CPI) came down a bit. It was still up 7.7% compared to last October, but that's lower than the 8.2% rise in September, and it's better than the 8% increase that was expected. The core CPI, which excludes food and energy costs, was at 6.3% -- which was also better than estimates.

Source Fool.com

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