Citibank stock price advanced 1% to $63

Citibank stock price advanced 1% to $63.05 after the Fed’s latest comments suggested a pause in rate hikes, easing funding costs for major banks. Meanwhile, the supply of new flats will be high, with Citigroup expecting an average of 20,000 units to be completed in the coming two years, compared with sales of 10,000 units in 2022 and 9,000 units in the first nine months of 2023, Liu said. Valued at a market cap of $176.5 billion, Citigroup Inc. (C) operates as one of the largest financial institutions in the world. The New York-based financial giant focuses on safeguarding assets, lending money, making payments, and accessing the capital markets on behalf of its clients. Its customers include corporations, governments, institutions, as well as individuals. The Citibank stock price currently hovers around $61.90, supported by strong institutional buying. Technical charts indicate a bullish wedge forming, suggesting possible upward momentum towards $65 resistance.