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The Dow and S&P 500 rose on Friday after the government's stress tests results on big banks lifted optimism on financial stocks, and data showed employers cut a smaller-than-expected amount of jobs in April.

Three big U.S. banks raced to sell stock after the U.S. government said top financial firms have a $75 billion hole in their capital, while first-quarter results from two European banks showed bad debts are soaring.

Stock index futures were poised for a higher open on Friday after the government's stress tests results on big banks lifted optimism on financial stocks and data showed employers cut a smaller-than-expected amount of jobs in April.

U.S. shares are set to rise on Friday, after stress tests for U.S. banks sparked optimism about the sector's future, and ahead of April's non-farm payroll data.

First-quarter results from two more European banks showed bad debts soaring in the face of tough economies, as U.S. rivals prepared to raise $75 billion to provide a cushion for the deepest recession in decades.

U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.

Bank of America Corp , ordered by the government to find $33.9 billion of capital, said on Thursday it planned to sell assets and issue more common stock to cover the shortfall.

Wall Street stocks slid on Thursday as investors took profits from the technology sector's recent surge, while analyst downgrades hurt telecoms and a tepid response to a government bond auction raised fears about public finances.

Federal Reserve chief Ben Bernanke said that the results of stress test results today - showing 10 banks need $75 billion in additional capital - should give comfort to investors and the public about the ability of banks to weather an even more adverse economic situation than the nation is facing.

The much anticipated stress test results were finally released on Thursday by the Federal Reserve reflecting that 10 of the nation's 19 largest banks need a total of about $75 billion in new capital.

U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.

U.S. regulators told top banks on Thursday to raise $74.6 billion to build a capital cushion officials hope will restore faith in financial firms and set a course out of the deepest recession in decades.

The U.S. government was preparing on Thursday to draw a line separating the weak from the strong in the banking sector in an attempt to put the worst of the financial crisis behind it.

Investors braced for the release of bank stress test results that will separate the weak from the strong and force some top banks to raise billions of dollars in capital.

Citigroup Inc and Bank of America Corp shares rallied in premarket trading ahead of the release of stress test results that will force them and other top banks to raise tens of billions of dollars in capital.

A trio of top European banks showed bad debts are ratcheting up as economies worsen and unemployment rises, although investor optimism ahead of U.S. bank stress test results drove shares to year highs.

Shares are set for a mostly higher open on Thursday, ahead of the results of the stress tests for banks.

Asian shares extended their rally Thursday as encouraging signs about the health of U.S. banks and the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.

Regulators are ordering some of the largest U.S. banks to find tens of billions of dollars of capital to cushion themselves in the event of a deep economic downturn.

A rally in Asian shares continued on Thursday as encouraging signs about the health of U.S. banks and the state of the global economy bolstered riskier assets such as oil and hurt safe-havens such as the yen.

Bank of America chief executive Ken Lewis on top federal officials will be asked by a Congressional panel to testify next month about his claims that the U.S. Treasury and Federal Reserve pressured him to close deal to acquire Merrill Lynch, a person familiar with the investigation told the Wall Street Journal.

Some of the U.S. banking giants have been ordered to find additional capital by regulators to protect themselves in the event of a severe economic downturn.

Bank of America Corp's chief executive and top federal officials will be asked by a Congressional panel to testify next month about claims that the bank was pressured by the government to complete its purchase of Merrill Lynch & Co, the Wall Street Journal reported on Wednesday, citing a person familiar with the investigation.

Bank of America Corp's chief executive and top federal officials will be asked by a Congressional panel to testify about claims that the bank was pressured by the government to complete its purchase of Merrill Lynch & Co, the Wall Street Journal reported on Wednesday, citing a person familiar with the investigation.

Fixes headline to say BofA CEO will be asked to testify: report, instead of will testify

Bank of America Corp's chief executive and top federal officials will be asked by a Congressional panel to testify about claims that the bank was pressured by the government to complete its purchase of Merrill Lynch & Co, the Wall Street Journal reported on Wednesday, citing a person familiar with the investigation.

Regulators are ordering some of the largest U.S. banks to find tens of billions of dollars of capital to cushion themselves in the event of a deep economic downturn.

U.S. stocks rose on Wednesday after a private-sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than previously thought.

U.S. stocks rose on Wednesday after a private sector reading on the labor market signaled unemployment may be receding and leaked bank stress test results suggested most banks are healthier than thought.