Citi's earnings follows results from JPMorgan Chase and Wells Fargo, which both reported Friday.

Goldman Sachs, Bank of America, Johnson & Johnson and a slew of tech firms, including Yahoo, Google, Intel and Microsoft will all be reporting this week.

And anxiety remains over the European debt crisis. Investors are concerned that political headwinds in Europe will stymie the latest rescue plan for the euro currency union, which eurozone leaders announced at a summit late last month.

U.S. stocks rallied Friday, with the Dow and S&P 500 breaking a six-day losing streak.

World markets: European stocks finished mixed. Britain's FTSE 100 slipped 0.1%, while the DAX in Germany gained 0.1%. France's CAC 40 ended slightly below the breakeven line.

Asian markets ended mixed. The Shanghai Composite fell 1.7%, while the Hang Seng in Hong Kong ticked up about 0.2%. Japanese markets were closed for a holiday.

Economy: The Empire Manufacturing survey for New York state rose to 7.4 in July from 2.3 the prior month. Economists were expecting a reading of 3.8.

Business inventories rose 0.3% in May, according to data from the Census Bureau. Economists were expecting inventories to have risen 0.2% from the prior month.

Companies: Shares of biopharmaceutical company Human Genome Sciences rose, as rival GlaxoSmithKlein acquired the company for $14.25 a share, or $3.6 billion. In April, GSK had offered to buy the company for $13 a share, or $2.6 billion, but Human Genome rejected that offer.

Nokia shares fell after the cell phone company said it would slash the price of its flagship smartphone in the United States. The cost of the Lumia 900 will drop to $49.99, as the company struggles to gain ground against the more popular Apple and Samsung.