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NEW YORK (CNNMoney)
Better than expected reports from Citigroup and retail sales data helped U.S. markets open in positive territory after a painful week that saw the Nasdaq fall 3.1%, the S&P 500 side 2.7% , and the Dow Industrials tumble 2.3%. Traders expect more volatility as earnings season kicks into full swing over the next few weeks.
The king of the morning is Citigroup (C, Fortune 500). The third largest U.S. bank's stock is climbing after the company released first quarter earnings that beat analysts' forecasts. Profits rose 4% from the same period last year.
Earnings from Bank of America (BAC, Fortune 500), Goldman Sachs (GS, Fortune 500), and Morgan Stanley (MS, Fortune 500) will come later in the week.
Related: Here are the earnings to expect in the week ahead
Much of the recent choppiness in the markets have been drive by so called "momentum stocks", the tech and biotech companies that had an incredible run in the past year, but have fallen sharply in recent days.
On Monday, tech stocks were on the rebound. Facebook (FB, Fortune 500), Twitter (TWTR), Amazon.com (AMZN, Fortune 500), Netflix (NFLX), Google (GOOG, Fortune 500) and Yahoo (YHOO, Fortune 500) were all gaining ground. Google and Yahoo will also report earnings this week.
Related: CNNMoney Tech 30
Another stock that took a pounding on Friday, but is bouncing back today is Herbalife (HLF). Shares of the multi-level marketer plunged after reports of an FBI probe. The company said it had "no knowledge of any ongoing investigation by the DOJ or the FBI."
The latest reading from the CNNMoney Fear & Greed Index shows market sentiment is in "extreme fear" mode after the turmoil at the end of last week. It will be interesting to see where the meter is as the day progresses.
On the economic front, March retail sales posted their biggest gain since September 2012, up 1.1% as shoppers started returning to stores after the frigid winter months. Sales were exceptionally strong at auto dealers.
In other news, the financial services company TIAA-CREF is buying Nuveen Investments for $6.25 billion including debt. Nuveen has $221 billion in assets under management and brings TIAA-CREF's total assets under management to $800 billion.
Related: Investors dip a toe back into emerging markets
European markets were all lower as investors reacted to Friday's U.S. sell-off and the growing threat of U.S. and European sanctions against Russia.
Russian stocks and the ruble dropped as the continuing strife between Russia and Ukraine ramped up to a fever pitch. Pro-Russian protesters seized a police station in Ukraine and the government threatened to oust them with a "full scale anti-terrorist operation."
"Even before this, the U.S. and Europe were threatening more sanctions as Russia forces remain amassed on the Ukraine border," wrote currency strategist Marc Chandler in a market report for Brown Brothers Harriman. "The position and weapons of those forces ... is leading NATO to conclude that Putin is seeking the full occupation of Ukraine."
Asian markets closed with mixed results. 
First Published: April 14, 2014: 9:49 AM ET
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