New York, March 2, 2026, 19:21 EST — After-hours.
- Citi shares were last up about 1.1% at $111.45 in late trading
- The bank told some Middle East staff to work from home and said it has contingency plans
- Traders are watching oil, deal activity and Citi’s April 14 earnings call
Citigroup shares rose in after-hours trading — the session after the 4 p.m. New York close — and were last up 1.1% at $111.45 on Monday. The stock traded between $110.70 and $111.87, with roughly 19 million shares changing hands.
The move matters because bank shares have been reacting to sudden jumps in volatility and oil, which can lift trading revenue but also chill corporate deals. Citi’s overseas reach keeps it tied more tightly to operational headlines than some U.S.-focused rivals.
Citigroup and JPMorgan asked employees in the Middle East to work from home as tensions rose during the U.S.-Israeli air war against Iran, two sources familiar with the matter told Reuters. “We are continuing to take measures to help keep our employees and their families safe,” Citi said, adding it had contingency plans to keep serving clients and it did not expect disruptions to operations in the region. 1
U.S. stocks ended narrowly mixed after a volatile session tied to the air strikes, with traders buying the dip in tech and defense names. The Dow fell 0.15% while the S&P 500 added 0.04% and the Nasdaq gained 0.36%; U.S. crude settled up 6% at $71.23 a barrel. “I just don’t think the average market participant is that moved by the conflict until the price of oil gets to $100 a barrel,” said Alex Morris, CEO of F/m Investments; Bill Smead of Smead Capital Management said, “When people get scared, they go back to what is comfortable.” 2
Among big U.S. banks, Citi outperformed JPMorgan and Bank of America on the day, while Wells Fargo ended higher. 3
For Citi traders, the near-term tells are crude prices and whether capital markets activity stays fluid, or starts to stall. A steady pipeline of debt and equity deals matters as much as the day-to-day swings in trading desks.
But the risk is straightforward: a wider conflict that keeps oil climbing could squeeze risk appetite, push companies to delay financings and deals, and drag on the real economy. That is the downside setup for lenders, even if volatility lifts some market businesses.
The next scheduled catalysts are Citi’s first-quarter 2026 earnings call on April 14 and its investor day on May 7. 4
