Citigroup profit beats estimates as stock trading jumps 23%
NEW YORK (Reuters) -Citigroup beat Wall Street estimates for first-quarter profit as its traders reaped a windfall from volatile markets that fueled client activity. The third-largest U.S. lender's earnings echoed those of Wall Street rivals, including JPMorgan Chase, Bank of America, and Morgan Stanley, where results were also lifted by stronger equities trading. "When all is said and done, and long-standing trade imbalances and other structural shifts are behind us, the U.S. will still be the world's leading economy, and the dollar will remain the reserve currency," CEO Jane Fraser said in a statement.