Fed Optimism Lifts Bank Stocks; Citigroup (C) Jumps 4% to Near 18-Year High

Citigroup (C) shares rose 4% on June 5, 2026, to close at $135.15, their highest since November 4, 2008, as Federal Reserve comments eased financial-system worries and boosted bank stocks broadly. The stock hit an intraday peak of $135.67, extending its 12-month surge to 76% and year-to-date gain to 15.8%. The rally followed Fed testimony that maintained a positive view of the economy, lifting the SPDR S&P Bank ETF (KBE) 3% against the S&P 500’s 0.4% rise. JPMorgan, Bank of America, Goldman Sachs, and Morgan Stanley also advanced. Citigroup’s turnaround under CEO Jane Fraser has involved exiting overseas retail markets and focusing on wealth management and investment banking. A June 4 executive reshuffle signaled a shift from restructuring toward growth and shareholder returns.