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Wall Street's Most Bearish S&P 500 Call Hinges on One Chart Signal

Citigroup's Transformation Can Lift the Stock by 30%. It's Time to Buy. -- Barrons.com

By Teresa Rivas From housing to gasoline prices, nearly everything that the 2008-09 financial crisis impacted has bounced back and then some. Then there's Citigroup stock. Citi is the last of the major banks trading below its pre-crisis peak, and it does so by a substantial margin. The company certainly needed a major overhaul, so investor skepticism was warranted. It has since emerged better and stronger, with ongoing improvements likely to further bolster its stock price. The transformation in progress, along with new management and a favorable backdrop, suggest more upside for the stock. The shares only need to trade around 13 times 2027's expected earnings per share -- roughly in line with peers -- to cross the $165 mark. That corresponds to a gain of about 30% from current prices. "Citi has been in a multiyear turnaround plan, and [CEO Jane Fraser] has done a terrific job positioning the firm for a more simplified structure, more focused on returns," says Macrae Sykes, a portfolio manager at Gabelli Funds, which owns the shares. "It appears, with the strategy in place, that Citi should continue to build on its improvement in return on tangible common equity." ROTCE, a "truth metric" for banks, has become increasingly important in recent years, as it strips away intangible assets such as goodwill to help investors get a clearer view of a financial institution's profitability after taxes. Citi's ROTCE has been volatile, and below the 10% investors have tended to expect in recent years. However, consensus calls for it to expand from 7.7% in 2025 to 11.4% this year and 12.2% next year -- levels that demonstrate Citi's continued headway and are typically associated with higher stock prices. Very simplistically, "you're buying something that could be as good as JPMorgan at half the price," says Dave Ellison, a portfolio manager at Hennessy Funds, which owns the stock. At ten times next year's expected earnings and priced at just over one times book value and 1.2 times tangible book value, Citi is the cheapest of t

US Stock Market Preview | All Three Major Stock Index Futures Fall, Oil Prices Surge Over 4%, SpaceX, Broadcom, and Oracle Simultaneously Advance Chip Financing

On October 8 (Thursday), before the US stock market opened, futures for the three major US stock indexes all declined.

BUZZ - Universal Display shares fall after Citi downgraded rating

On October 8, shares of OLED materials company Universal Display (OLED.O) fell by 4.5% in pre-market trading to $73.8. Citigroup downgraded Universal Display from “Neutral” to “Sell” and lowered its price target from $85 to $71. The new target price implies about an 8% downside from the previous closing price. The brokerage pointed out the continued weakness in the smartphone market and delays in the adoption of blue OLED technology. Citigroup also noted that high memory costs and weak demand for mid- and low-end smartphones may continue to drag down sales of OLED materials. Out of 10 brokerages, seven rate the stock as “Buy” or higher, and three rate it as “Hold.” The median price target is $117.5. As of the previous trading day's close, the stock had fallen a cumulative 33.88% so far this year.

Citigroup Has Trailed Financial Stocks. Expect That to Change. -- Barrons.com

By Teresa Rivas From housing to gasoline prices, nearly everything that the 2008-09 financial crisis impacted has bounced back and then some. Then there's Citigroup stock. Citi is the last of the major banks trading below its pre-crisis peak, and it does so by a substantial margin. The company certainly needed a major overhaul, so investor skepticism was warranted. It has since emerged better and stronger, with ongoing improvements likely to further bolster its stock price. The transformation in progress, along with new management and a favorable backdrop, suggest more upside for the stock. The shares only need to trade around 13 times 2027's expected earnings per share -- roughly in line with peers -- to cross the $165 mark. That corresponds to a gain of about 30% from current prices. "Citi has been in a multiyear turnaround plan, and [CEO Jane Fraser] has done a terrific job positioning the firm for a more simplified structure, more focused on returns," says Macrae Sykes, a portfolio manager at Gabelli Funds, which owns the shares. "It appears, with the strategy in place, that Citi should continue to build on its improvement in return on tangible common equity." ROTCE, a "truth metric" for banks, has become increasingly important in recent years, as it strips away intangible assets such as goodwill to help investors get a clearer view of a financial institution's profitability after taxes. Citi's ROTCE has been volatile, and below the 10% investors have tended to expect in recent years. However, consensus calls for it to expand from 7.7% in 2025 to 11.4% this year and 12.2% next year -- levels that demonstrate Citi's continued headway and are typically associated with higher stock prices. Very simplistically, "you're buying something that could be as good as JPMorgan at half the price," says Dave Ellison, a portfolio manager at Hennessy Funds, which owns the stock. At ten times next year's expected earnings and priced at just over one times book value and 1.2 times tangible book value, Citi is the cheapest of t

UNITED PARKS & RESORTS INC. : CITIGROUP CUTS TARGET PRICE TO $34 FROM $49

UNITED PARKS & RESORTS INC. : CITIGROUP CUTS TARGET PRICE TO $34 FROM $49

abrdn Malaysia raises deemed stake in Velesto to 9.608%

Abrdn Malaysia raised its deemed stake in Velesto to 794,067,400 shares, or 9.61%, via a custodian purchase. The change followed Citibank’s acquisition of 234,600 ordinary shares on Oct. 6. The notice was dated Oct. 7. Velesto received it on Oct. 8. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Velesto Energy Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3713279) on October 08, 2026, and is solely responsible for the information contained therein.

RYDER SYSTEM, INC. <R.N>: CITIGROUP RAISES TO BUY FROM NEUTRAL; RAISES TARGET PRICE TO $285 FROM $283

RYDER SYSTEM, INC. : CITIGROUP RAISES TO BUY FROM NEUTRAL; RAISES TARGET PRICE TO $285 FROM $283

Citigroup raises profit forecast; Australian exchange operator's stock price rises

On Thursday, shares of Australian Securities Exchange operator ASX Ltd (ASX.AX) surged to nearly a two-month high after Citi raised its annual profit outlook for the company, citing a strong first-quarter performance and predicting robust market activity to continue into the first half of the year. Details are as follows: The exchange operator's average daily trading volume in the spot market rose 16% year-on-year in September. Citi analysts noted that daily futures trading volumes climbed 44% during the month, approaching historical highs, possibly reflecting structural and cyclical factors, including interest rate prospects and changes in the bond market. Citi added that strong market activity is expected to last at least through the first half, and consequently raised ASX's annual earnings-per-share forecast by 2%. Citi pointed out, however, that corporate market activity remained subdued in September. Short-term market activity is expected to be boosted with Glencore's GLEN.L company planning a secondary listing in October and Firmus company planning an initial public offering (IPO) in October. Both Citi and UBS raised their target price for ASX from AU$60.10 and AU$64.20 to AU$61.00 and AU$65.50, respectively. Meanwhile, Goldman Sachs remains cautious about the strategy of the new CEO, Anthony Attia, and the company's potential future financial situation. Goldman Sachs is also alert to execution risks in the exchange operator's CHESS system replacement and technology modernization plans. This comes after the central bank stated in September that the company's clearing and settlement facilities had not met the bank's expectations. ASX shares closed up 3.8%, reaching their highest level in nearly two months and ranking among the top performers on the S&P/ASX 200 index.

CITIGROUP <C.N>: TD COWEN RESUMES COVERAGE WITH BUY VS HOLD RATING; TARGET PRICE $150 VS $130

CITIGROUP : TD COWEN RESUMES COVERAGE WITH BUY VS HOLD RATING; TARGET PRICE $150 VS $130

Impact of Surging US Treasury Yields: US Stock PE Ratio Shrinks Significantly, Mag 7 Dominates Small Caps

The 10-year US Treasury yield has reached a 24-year high, quietly reshaping the landscape of the US stock market. The S&P 500 forward price-to-earnings ratio has compressed from 22.2 times at the beginning of the year to 19.3 times, marking a “three-tier decline in valuation.” Meanwhile, the Russell 2000 Index is approaching technical correction territory, while Mag 7 stocks like Microsoft and Nvidia continue to support the broader market with the AI narrative and strong earnings. Market concentration is nearing historic extremes.

Stock Market Falls After Hitting Record Highs. What Changed Overnight?

Northann names Vincent La Scala to board, taps him as audit committee chair

Northann elected Vincent La Scala to its board on Oct. 5, 2026, filling the vacancy created by Umesh Patel’s resignation. La Scala will chair the audit committee. He will join the nomination committee and compensation committee. He spent more than 30 years at Citigroup, most recently as Director, Independent Commercial Risk Management through April 2023. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Northann Corp. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001575872-26-000679), on October 07, 2026, and is solely responsible for the information contained therein.

US Stocks Movement | European Bank Stocks Mostly Decline, Deutsche Bank (DB.US) Down 5%

On Wednesday, European bank stocks generally declined, with Deutsche Bank (DB.US) falling by 5% and HSBC Holdings (HSBC.US) dropping by 4%.

U.S. stocks fluctuate | European bank stocks mostly fall, Deutsche Bank (DB.US) down 5%

According to Zhihui Finance APP, on Wednesday, European bank stocks generally declined, with Deutsche Bank (DB.US) dropping 5%, HSBC Holdings (HSBC.US) falling 4%, and Santander Bank (SAN.US) slipping over 3%. Major U.S. banks also followed the downward trend: Goldman Sachs (GS.US) dropped nearly 3%, Citigroup (C.US) declined over 2%, while JPMorgan (JPM.US), Wells Fargo (WFC.US), Morgan Stanley (MS.US), and Bank of America (BAC.US) all fell by more than 1%.

Citi Wealth CIO sees higher-for-longer rates, stays underweight duration

Citigroup flagged a “higher-for-longer” rate regime, citing a 25-basis-point Fed hike in September amid persistent inflation. 3Q26 growth stayed resilient on consumer spending, with 52% of the U.S. PCE basket running above 3% over 12 months. The wealth CIO kept an underweight to duration, warning bonds may no longer reliably hedge equity volatility in this cycle. Gold remained a preferred portfolio hedge; diversified natural resources were highlighted for inflation resilience tied to infrastructure, AI buildout. Outlook stayed risk-on through 2026, with focus shifting to AI monetization, “physical AI” capex, cybersecurity demand. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Citigroup Inc. published the original content used to generate this news brief on October 07, 2026, and is solely responsible for the information contained therein.

Swift launches blockchain-based tokenized-deposit network, banks require new digital infrastructure

BUZZ - Citi upgrades XPO rating to "Buy" due to increased market share and strong pricing power

October 7 - Citigroup has upgraded logistics company XPO (XPO.N) from “Neutral” to “Buy,” and raised its target price to $224, indicating an upside potential of about 22% from the previous trading day’s closing price. The brokerage stated that the upgrade was made after the stock declined from the $230 range to its current level of $183 per share. It also added that the recent broad pullback in the transportation sector has created a "more favorable risk-reward setup" for the third-quarter earnings season. Citigroup noted, "Notably, XPO has been particularly optimistic about its Q3 earnings, expecting an opportunity to gain market share and maintain pricing power." Among 26 brokerages, 19 rate the stock "Buy" or above, 6 rate it "Hold," and 1 rates it "Sell"; the median target price is $238 according to data compiled by the London Stock Exchange Group (LSEG). As of yesterday’s close, the stock had risen 35% year-to-date.

Aberdeen Group raises deemed stake in MTT Shipping to 5.628%

Aberdeen Group lifted its deemed stake in MTT Shipping and Logistics to 140,693,000 shares, equal to 5.63%. The increase followed an acquisition of 483,300 ordinary shares on Oct. 5 via custodian Citibank. The disclosure was dated Oct. 6. The issuer received it on Oct. 7. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. MTT Shipping and Logistics Bhd published the original content used to generate this news brief via Bursa Malaysia (KLSE) (Ref. ID: 3712936) on October 07, 2026, and is solely responsible for the information contained therein.

Ondo Finance brings pre-IPO AI exposure on-chain — But there’s a catch

HighPeak Energy secures committed USD 800 million reserve-based credit facility led by Citibank, Fifth Third

HighPeak Energy announced a comprehensive refinancing built around a USD 450 million preferred equity investment and a new USD 800 million reserve-based credit facility. Citibank, N.A. and Fifth Third Bank, N.A. provided committed financing for the USD 800 million RBL, expected to close with the investment. PT Danantara Investment Management and PT Energi Mega Persada committed to buy 450,000 shares of Series A 6% Perpetual Convertible Preferred Stock. Proceeds from the investment, initial RBL borrowings, and cash are expected to repay a USD 1.17 billion term loan in full. The preferred is convertible at USD 9.50 per common share, callable after three years at a price targeting a 10% IRR. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Highpeak Energy Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202610060600PRIMZONEFULLFEED9840031) on October 06, 2026, and is solely responsible for the information contained therein.

Data Brief - Major Brokerages' Predictions for the S&P 500 Index in 2026

Stifel and Jefferies have updated their forecasts. Reuters, October 6 – Global brokerages expect the benchmark S&P 500 Index (.SPX) to extend its rally into 2026, betting on the momentum of artificial intelligence and strong corporate profits, while the war in Iran (link) continues to weigh on investor sentiment. Strategists predict robust AI-driven earnings will offset the short-term economic impacts of Middle East conflicts, though concerns about rising inflation and global energy supply disruptions persist. Major brokerages, including Goldman Sachs and Citigroup, expect the benchmark index to reach 8,000 points or higher by year-end. In contrast, BofA Global Research and Wells Fargo remain more cautious, with forecast levels (link) below the consensus. Here are some forecasts for the index's performance this year: Brokerage S&P 500 Target for 2026 BofA Global Research 7,400 Concord Financial 7,500 BNP Paribas 7,500 Wells Fargo 7,700 Evercore ISI 7,750 Seaport Research Partners 7,800 RBC Capital Markets 7,900 Stifel 7,900 Barclays 7,950 Jefferies 8,000 JPMorgan 8,000 Deutsche Bank 8,000 Société Générale 8,000 Goldman Sachs 8,000 Morgan Stanley 8,000 UBS Global Research 8,100 Oppenheimer Asset Management 8,100 Citigroup 8,100 UBS Global Wealth Management 8,100 HSBC 8,100 Wells Fargo Investment Institute 7,800-8,000 *UBS Global Research and UBS Global Wealth Management are two separate business divisions under UBS Group. *Wells Fargo Investment Institute is a wholly-owned subsidiary of Wells Fargo. (To facilitate non-English speakers, Reuters automatically translates its reports into several other languages. Since automated translations may be inaccurate or lack necessary context, Reuters does not guarantee the accuracy of these texts and provides them only for reader convenience. Reuters accepts no liability for any damages or loss caused by the use of automated translation features.)

Citigroup: Japanese bond yields may have reached their peak, clearer fiscal outlook will enhance investment appeal

Citigroup strategists believe that Japanese government bond yields may be approaching their peak, and they expect financial institutions to increase investments in Japanese bonds as the country's fiscal policy outlook becomes clearer.

Peter Lynch: Investing Tests Common Sense, Patience, and Understanding of How the World Really Works | Master Classics Series

Nasdaq hits a record high, one truth: The hotter AI gets, the harder it is to build data centers

Granite Point Mortgage Trust ups JPMorgan repurchase facility cap to $727 million

Granite Point Mortgage Trust amended its JPMorgan repurchase facility agreements on Sept. 30, 2026. Maximum facility amount increased to $727 million. Changes include revised principal payment waterfall mechanics for newly added purchased assets. Minimum Interest Expense Coverage Ratio covenant modified. Newly added purchased assets were previously financed under repurchase facilities with Citibank and Morgan Stanley Bank. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Granite Point Mortgage Trust Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001703644-26-000038), on October 05, 2026, and is solely responsible for the information contained therein.

Sector Update: Financial Stocks Gain Late Afternoon

03:57 PM EDT, 10/05/2026 (MT Newswires) -- Financial stocks rose in late Monday afternoon trading with the NYSE Financial Index adding 0.8% and the State Street Financial Select Sector SPDR ETF (XLF) up 0.7%. The Philadelphia Housing Index fell 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.3%. Bitcoin (BTC-USD) shed 1% to $85,673, and the yield for 10-year US Treasuries rose 3.4 basis points to 5.31%. In economic news, the Institute for Supply Management's US services index fell to 54.9 in September from 55.4 in August, compared with expectations for 55.0 in a survey compiled by Bloomberg. The S&P Global US services index rose to 58.8 in September from a 58.7 flash reading and was up from 56.5 reported in August, compared with expectations for no revision in a survey compiled by Bloomberg. In corporate news, Citigroup (C) is reducing its investment banking analyst program to two years from three to retain junior bankers amid competition from private equity firms, Bloomberg reported. Citi shares were fractionally lower. Allstate (ALL) is among six major insurers facing a Senate probe into claim payment practices, the Wall Street Journal reported, citing senators' letters. Allstate shares were up 0.4%. Intercontinental Exchange (ICE) launched new tanker and container freight futures and options as average daily volume across its freight markets rose 33% this year. The shares rose 1.3%. Ares Management (ARES) is seeking a multimillion-pound upfront payment from BT Group in exchange for supporting a potential takeover of struggling broadband provider TalkTalk, Sky News reported. Ares shares were down 0.6%.

Sector Update: Financial

03:32 PM EDT, 10/05/2026 (MT Newswires) -- Financial stocks rose in late Monday afternoon trading with the NYSE Financial Index and the State Street Financial Select Sector SPDR ETF (XLF) each adding 0.9%. The Philadelphia Housing Index fell 0.7%, and the State Street Real Estate Select Sector SPDR ETF (XLRE) declined 0.4%. Bitcoin (BTC-USD) shed 0.9% to $85,744, and the yield for 10-year US Treasuries rose 3.4 basis points to 5.31%. In corporate news, Citigroup (C) is reducing its investment banking analyst program to two years from three to retain junior bankers amid competition from private equity firms, Bloomberg reported. Citi shares were steady.

Major Banks Set to Report Earnings Amid Rising Yield Environment, UBS Says

02:15 PM EDT, 10/05/2026 (MT Newswires) -- Third-quarter earnings for major banks will unfold against a backdrop of rising Treasury yields, with earnings estimates of Goldman Sachs (GS) and Morgan Stanley (MS) sitting well below Wall Street's views, UBS Securities said in a note Monday. Earlier this month, the 10-year Treasury yield hit the highest level since April 2002, hitting as high as 5.24%. The 10-year yield is seen as a proxy for rates on mortgages and other loans. "A key theme we expect to hear discussed on earnings calls this quarter is, of course, the current rate environment, in which we have seen long-term treasury yields reach their highest levels in years," UBS analyst Erika Najarian said. Banks have underperformed the S&P 500 by 9.3% since the 10-year yield hit about 5%, according to the UBS note. History suggests that a climb in the 10-year rate above 5% tends to have a negative impact on market multiples. "We think investors will be sensitive to any management commentary on how longer-term rates impact business momentum," Najarian said. "In the medium term, we think any signal that long-term rates have reached their peak will be supportive of bank shares." A higher rate backdrop puts deposit costs back in focus, Najarian wrote. Last month, the Federal Reserve raised interest rates for the first time in just over three years to combat sticky inflation. The central bank's so-called "dot plot" signaled that a further rate increase could happen later this year. The US big bank earnings season kicks off next week. UBS lowered its third-quarter earnings-per-share estimates for Goldman, Morgan Stanley, Bank of America (BAC), Wells Fargo (WFC) and JPMorgan Chase (JPM). It raised the outlook for Citigroup (C). Of the six banks, Goldman, Morgan Stanley, JPMorgan and Citigroup are likely to miss estimates, with Goldman and Morgan Stanley expected to see the biggest shortfall, according to the note. Bank of America and Wells Fargo are seen topping Wall Street's EPS views. UBS slashed Goldman's third-quarter

Citigroup lowers its euro target; hawkish Federal Reserve and tensions with Iran create pressure

Citigroup foreign exchange strategists expect the euro to weaken against the U.S. dollar, citing the Federal Reserve’s more hawkish stance and renewed tensions between the United States and Iran. “With the tailwinds from artificial intelligence (AI), attractive real interest rates, and rising euro-related risk premiums, U.S. capital flows continue to support the dollar,” said Daniel Tobon and Brian Levine of Citigroup in a report. The Citigroup strategists have lowered their three-month euro/dollar forecast to 1.135 and cut their 6- to 12-month projection to 1.13.