New York, January 30, 2026, 15:02 EST — Regular session
- Citigroup shares edged up roughly 0.4% in afternoon trades, bucking the broader U.S. stock decline
- The Fed chair nomination and a hotter-than-expected producer-price report have pushed interest rates back into the spotlight for banks
- Investors are focused on a midnight U.S. funding deadline and the jobs report due next week
Shares of Citigroup edged up roughly 0.4% to $115.65 in afternoon trading Friday, bouncing between $114.06 and $116.62 earlier in the day. The stock gained around 45 cents compared to Thursday’s close.
Banks are responding to Donald Trump’s pick of Kevin Warsh to replace Jerome Powell as Federal Reserve chair when Powell’s term expires in May. Warsh has pushed for sharp rate cuts and proposed trimming the Fed’s balance sheet while loosening bank regulations. His confirmation battle in the U.S. Senate could be tough. (Reuters)
Rates are in focus after the latest inflation data came in hotter than forecast. The Producer Price Index (PPI), tracking what businesses charge for goods and services, jumped 0.5% in December—its biggest rise in five months. Services accounted for much of that increase. Meanwhile, the Fed left its benchmark rate steady this week, holding it at 3.50%-3.75%. “This report validates the pivot of the Fed away from labor market risks back toward price stability,” said Carl Weinberg of High Frequency Economics. Key upcoming data include the January jobs report on February 6, the CPI a week later, and the Fed’s favored inflation gauge, the Personal Consumption Expenditures (PCE) price index, out February 20. (Reuters)
U.S. stocks mostly slid as investors mulled over how hawkish Warsh might be. “He’s traditionally been known as much more concerned about inflation,” noted Eric Gerster from AlphaCore Wealth Advisory. (Reuters)
Trading among big banks showed little direction. JPMorgan Chase & Co. dipped roughly 0.2%, Bank of America eked out a 0.1% gain, and Wells Fargo dropped near 0.2%. Meanwhile, the Financial Select Sector SPDR ETF fell about 0.3%.
Bloomberg also reported that Citigroup’s India unit has brought on Ankur Khurana to head commercial banking, targeting growth within the country’s rapidly expanding mid-market corporate sector. (The Economic Times)
Citi’s blend of lending, markets, and dealmaking often moves in step with changes in interest-rate forecasts and shifts in risk appetite.
But the situation remains precarious. With federal funding set to expire at midnight in Washington, a partial U.S. government shutdown is on the horizon. Any prolonged standoff could rattle markets already on edge and throw a wrench into the lead-up to crucial economic reports. (Reuters)
Citigroup shares are now looking ahead to the February 6 U.S. jobs report. Investors will be watching closely to see if rate expectations stabilize before the week wraps up.
