Vi e w p o i n t | 31 Mar 2026 01:43:33 ET │ 10 pages China Economics PMI Beat Points to Nominal Growth Surprise CITI'S TAKE March PMI data beat expectations, pointing to material upside risks to 26Q1 growth forecasts, particularly in nominal terms. The IEEPA ruling aided Chinese exporters, while the global oil shock reinforced China's role as the world's reliable manufacturing hub. We estimate a 10% oil price rise could lift PPI by ~1.15ppt and CPI by ~0.23ppt, with PPI turning positive as early as March. ...

Sign up here. The Federal Advisory Council comprises one representative of the banking industry from each of the 12 Federal Reserve districts and advises the Board on economic and banking matters. NY Fed appoints Citi CEO Jane Fraser to Federal Advisory Council | Reuters Exclusive news, data and analytics for financial market professionalsLearn more aboutRefinitiv Jane Fraser CEO, Citi, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake ...

Supporting his view, JPMorgan analyst Jeremy Tonet, on March 19, maintained Vistra with an Overweight rating and raised the price target from $239 to $240.Kevin Simpson, Capital Wealth Planning founder and CIO, picked Caterpillar Inc. (NYSE:CAT) .Lending support to his choice, Citigroup analyst Kyle Menges, on March 9, maintained a Buy rating on Caterpillar and raised the price target from $760 to $785.Don't forget to check out our premarket coverage hereJim Lebenthal, partner at Cerity Partners, recommende ...

Market Overview - The current market is characterized by instability due to rising geopolitical tensions, a pullback in equities, and surging oil prices, leading to uncertainty on Wall Street [1][6] - The S&P 500 has experienced multiple weeks of losses, raising concerns among both long-term investors and day traders about potential further declines [1] Citigroup's Outlook - Citigroup maintains a year-end target of 7,700 for the S&P 500, indicating a belief in a sharp rebound despite current market risks [2][4] - The current trading level of the S&P 500 is 6,368, suggesting a required rally of approximately 20% to reach Citi's target [3] - Citi's outlook is based on projected earnings of about $320 per share, which may be conservative given recent earnings momentum [3] Alternative Scenarios - Citi has outlined two alternative scenarios for the S&P 500: a bull case of 8,300 driven by stronger earnings and valuation expansion, and a bear case of 5,700 reflecting weaker fundamentals and falling multiples [8] - Despite the ongoing Middle East conflict and macroeconomic uncertainties, Citi has chosen to maintain its full-year targets [4] Market Performance - The S&P 500 is currently about 8-9% below its peak, indicating significant pressure on equities [6] - The Dow Jones Industrial Average has dropped 1.7%, closing at $45,166.64, while the Nasdaq Composite fell over 2%, closing at $20,948.36, with major tech stocks like AMZN and META declining by 4.02% each [7][9]

Middle East Conflict as a Shock or Boost to Exports? CITI'S TAKE Following our updated analysis, in which we raised our inflation forecasts, we have received numerous inquiries regarding the Mideast conflict's impact on economic activities, especially exports. One month in, we start to see dents in China's petrochemical supply chain – for rising feedstock costs instead of outright crude shortages. Broader industrial production remains largely intact, reinforcing China's position as a reliable world factory ...

(Bloomberg) -- China Tourism Group Duty Free Corp.’s shares may be poised to shift course after a weak run this year, as stabilizing sales and improving demand from its key Hainan business support the outlook, analysts say.The company’s mainland-listed shares have fallen 25% this year, making it one of the worst performers on the benchmark CSI 300 Index, while its Hong Kong-listed stock has dropped about 39% from a February high. A potential catalyst for a turnaround may come later Monday, when the travel r ...

Core Viewpoint - Citigroup is reportedly considering acquiring a major U.S. regional bank or brokerage to enhance its deposit base, although the bank has dismissed these claims as "baseless speculation" [1][7]. Group 1: Acquisition Considerations - Citigroup's executives are evaluating the potential acquisition to increase deposits, which could support its lending and trading operations [2]. - The bank operates under two consent orders that require regulatory approval for acquisitions, but U.S. regulators have shown a willingness to consider a proposal [3]. Group 2: Current Operations and Market Position - Citigroup, the third-largest U.S. bank, has a significantly smaller U.S. retail banking arm compared to JPMorgan, with average deposits of $89 billion versus JPMorgan's $1.1 trillion [7]. - The consent orders imposed in 2020 by the Federal Reserve and the Office of the Comptroller of the Currency (OCC) require Citigroup to improve its technology and procedures for better risk management [8]. Group 3: Organizational Changes - In September 2023, Citigroup announced a major restructuring aimed at reducing management layers and enhancing operational efficiency [10]. - CEO Jane Fraser's multiyear strategy to transform Citigroup into a leaner, technology-driven institution is reportedly beginning to yield positive results [11].

Cybersecurity Sector - Cybersecurity stocks experienced a decline due to concerns over a new AI model called Claude Mythos being tested by Anthropic, which could disrupt traditional cyber defense companies [2] - Major companies like Crowdstrike, PaloAlto Network, Zcaler, and Data Dog saw their stock prices drop as a result of these fears [2] Luxury Market - The ongoing conflict in the Middle East has led to a significant loss of nearly $100 billion in market value from global luxury stocks, with LVMH and Hermes each losing over $40 billion [3][4] - Ferrari's stock has decreased by 15% over the past four weeks, and analysts warn that sales in the Middle East could fall by as much as 50% in a worst-case scenario [4] - Luxury car manufacturers like Bentley and Maserati have halted deliveries due to security concerns stemming from geopolitical risks [5] Economic Indicators - Consumer sentiment has dropped to its lowest level since December, reflecting concerns about the economy, particularly in the luxury sector [9] - A survey indicated that inflation expectations for the year ahead are at their highest since April of the previous year, while longer-term inflation expectations have decreased [10] - The upcoming March jobs report is anticipated to show a modest gain of 48,000 to 50,000 jobs, with the unemployment rate expected to rise to 4.5% [11][12]

Kalshi was approved for margin trading on the same day Washington’s attorney general sued it for running an illegal gambling operation.The prediction market platform secured a futures commission merchant license through an affiliate called Kinetic Markets LLC. The license would let institutional users open positions without posting the full amount of capital, a feature hedge funds have been waiting for.Kalshi CEO Tarek Mansour said a margin product would be coming “soon.” He noted capital efficiency is the ...

Core Viewpoint - Citigroup is considering the acquisition of a U.S. regional bank to enhance its deposit base and streamline operations, as reported by Bloomberg News [1][2]. Group 1: Acquisition Intent - Senior leaders at Citigroup have engaged in preliminary discussions regarding the potential acquisition of a major U.S. regional lender [2]. - The aim of the acquisition is to significantly increase the bank's deposits [2]. - Some executives have mentioned the possibility of a takeover during meetings with U.S. regulators this year [2]. Group 2: Market Reaction - Following the news, shares of Citigroup experienced a decline of 4.5% in afternoon trading [2].