wall street: Dow pops 400 points on retail sales data; Citi shines after results

Wall Street’s main indexes opened higher on Friday as upbeat retail sales data allayed some concerns about an economic slowdown, while shares of Citigroup surged after quarterly results.

The Dow Jones Industrial Average popped 446 points, or 1.46%. The S&P 500 jumped 1.38% and Nasdaq Composite added 1.42% but stocks remained on track for weekly losses.

S&P 500 contracts rose in what could be another dizzying session, with about $1.9 trillion in options expiring — making investors to either roll over existing positions or start new ones. Citigroup Inc jumped on a better-than-estimated profit, while Wells Fargo & Co. fell after disappointing earnings. The dollar fell and bonds fluctuated.

MORE TO COME…