U.S. stock index futures were higher Monday after retail sales gained more-than-expected last Month, and as investors digested Citigroup's earnings report.
Retail sales increased 0.8 percent iN March after a revised 1 percent increase in February, according to the Commerce Department. Economists had expected a gain of 0.3 percent, according to a Reuters poll. The better-than-expected retail numbers could prompt analysts to raise their first-quarter growth forecasts from its current level of 2.5 percent.
Meanwhile, manufacturing activity in New York plunged to 6.56 in April from 20.21 in the previous month, according to the Federal Reserve Bank of New York's Empire State Manufacturing Survey. Economists had expected a reading of 17.50.
On the earnings front, Citigroup posted earnings of $1.11 a share for the first quarter but its revenue fell sharply. After trading more than 1 percent higher prior to the eanings release, Citi shares briefly traded negative after the earnings announcements before swinging to a small gain.
Financial shares led stock market losses last week after JPMorgan posted results that topped expectations but showed year-on-year falls in net income and revenue.