Citigroup buoys US markets

Stocks rallied to a third straight gain on Thursday, buoyed late in the day by bullish comments from Citigroup’s chief executive.

After trading in the red for most of the day, the Dow Jones Industrial Average rose 44.51 points, or 0.4%, at 10611.84. At its low, this index was down 60.16 points amid worries about economic reports out of Washington and China.

Citigroup shares jumped 5.6% after Chief Executive Vikram Pandit forecast that the bank’s return on assets in its core businesses would grow this year and reiterated that the government plans to sell its Citigroup shares some time this year.

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