UNITED STATES

(Corrects 8th paragraph to say 9.8 percent unemployment rate was for November, not October)

Stock index futures rose on Friday following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally.

Futures on major U.S. indices point to higher opening on Friday ahead of economic data including trade balance and monthly import price index.

U.S. stocks rose on Friday following encouraging economic data on consumer sentiment and trade, while the S&P 500's break above key levels pointed to further gains.

Cyber activists striking at companies seen as enemies of WikiLeaks sought to block the website of online payment firm Moneybookers on Friday but denied their campaign was intended to damage economic activity.

General Motors Co Chief Executive Dan Akerson said on Friday that the automaker is seeking some relaxation in the restrictions on executive pay imposed by the U.S. government.

South Korean President, Lee Myung-bak, stated that reunification with North Korea would 'definitely' take place. His statement also comes close to Wikileaks revelations that suggested that North's biggest ally China is reportedly backing a plan for reunification. A leaked diplomatic cable sent out to Washington by US diplomats maintained that South Korean officials would press for reunification but precisely, under their control.

Changes reserve ratio level in third paragraph to 18.5 percent, not 19 percent

The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday.

China's central bank on Friday increased the amount of money that lenders must keep on reserve for the third time in one month, a move to mop up excess cash in the economy and rein in inflation.

Smaller developing countries should prepare measures to be able to cope with inflows of cash as investors look for bigger returns outside sluggish developed economies, Nobel Prize winning economist Joseph Stiglitz said on Friday.

Stocks were little changed on Friday with the S&P 500 locked in a tight trading range and as the dollar gained, but encouraging data limited the downside.

China’s trade surplus rose in November raising fresh fears about renewed criticism from the US and Europe over Beijing’s currency policy.

The U.S. trade deficit narrowed much more than expected in October, as exports rose a robust 3.2 percent and imports declined slightly in the face of slackening demand for industrial and petroleum products, a Commerce Department report showed on Friday.

China's central bank on Friday raised the amount of money the country's lenders must keep on reserve for the third time in a month, following a spate of robust data that strengthened the case for policy tightening.

On a 2-hour chart, EUR/USD has next support at 1.3141 (S1), as indicated by the 61.8 percent Fibonacci retracement from 1.3422 to 1.2970. A break below the same could take it to 1.3059 (S2) before retesting the November 30 low of 1.2968.

In conversation with Rebecca Joffrey, Director – Career Education, Tuck School of Business, who believes that2011 is going to be a strong year for MBA recruiting.

Cyber activists striking at companies seen as enemies of WikiLeaks tried to block the website of online payment firm Moneybookers on Friday but denied their campaign was intended to damage economic activity.

Wall Street was set for a slightly higher open on Friday following encouraging data out of China and as a two-year high in the S&P 500 had investors betting on a year-end rally.

comScore (NASDAQ:SCOR) said online holiday spending in the United States exceeded $17.5 billion for the first 35 days of the November-December shopping season. Free shipping surged to more than 50 percent of all the E-Commerce transactions.

Cyber activists striking at companies seen as enemies of WikiLeaks sought to block the website of online payment firm Moneybookers on Friday but denied their campaign was intended to damage economic activity.