MARKETS / FINANCE

U.S. stocks rose on Monday as troubled lender CIT Group Inc is expected to close a deal with bondholders that could remove uncertainty and point to a healthier financial sector.

Apple iPhone can now be used to order pizza with the new Pizza Hut iPhone App.

Stocks rose on Monday, but were off session highs, after CIT Group Inc clinched a deal with bondholders that removed some uncertainty from a recovering financial sector.

CIT Group Inc has clinched a deal for $3 billion of emergency financing from bondholders, keeping the struggling lender out of bankruptcy, and the pact may be announced Monday, a person close to the matter said.

The U.S. housing market is showing signs of stabilization, according to inventory data released on Monday by national real estate brokerage ZipRealty.

Stocks were set to open higher on Monday, extending gains following Wall Street's best week in 4 months, after CIT Group Inc clinched a deal that could help avoid bankruptcy, removing some uncertainty as the financial sector recovers from a deep crisis.

Stellar earnings from U.S. banks have raised expectations that European rivals will follow suit in the next month, although rising bad debts have the potential to douse that optimism.

Charles Schwab Corp , the largest U.S. online brokerage, denied allegations by New York Attorney General Andrew Cuomo of civil fraud in its marketing and sale of Auction Rate Securities .

The U.S. recession's grip on the economy appears to be easing but likely has not yet ended, according to a survey of economists released on Monday.

Stock index futures rose on Monday after CIT Group Inc clinched a deal that could avoid bankruptcy, removing some uncertainty as the financial sector recovers from a deep crisis.

The conference board's index for June will be released today at 10am EST. The June indicator is expected to show a slight gain after the number of housing permits rose. May indicators spiked 1.2 percent, topping the 1.1 percent jump in April that ended a long run of declines.

CIT Group Inc's board signed off on a deal late Sunday for $3 billion in rescue financing from a group of bondholders, in a plan the lender hopes will stave off bankruptcy, a source close to the situation said.

Charles Schwab Corp , the largest U.S. online brokerage, denied allegations by New York Attorney General Andrew Cuomo of civil fraud in its marketing and sale of Auction Rate Securities .

U.S. stock index futures were higher, pointing to a firmer start on Wall Street on Monday, with both the Dow Jones futures and the S&P 500 futures up 0.3 percent by 3.56 a.m. ET, and the Nasdaq futures up 0.2 percent.

Private equity firm Kohlberg Kravis Roberts & Co on Monday moved a step closer to merging with its Euronext-listed fund after receiving approval from the board of the fund to combine businesses.

Asian stocks outside Japan rose on Monday to their highest level since the dark days following Lehman Brothers' collapse in September while the U.S. dollar fell, as strong company earnings encouraged investors to move into riskier, higher-yielding assets and commodities.

Asian stocks rose on Monday to their highest level since the dark days following Lehman Brothers' collapse last September while the U.S. dollar fell, as a solid outlook for corporate earnings lured investors to riskier, higher-yielding assets and commodities.

Creditors of Wilton Holdings Inc, one of largest makers of equipment for decorating food, asked a court to put the company in Chapter 11 bankruptcy due to $208 million in debts, according to court documents.

Private equity firm Kohlberg Kravis Roberts & Co on Monday moved a step closer to merging with its Euronext-listed fund, after receiving approval from the board of the fund to combine businesses.

CIT Group Inc's board signed off on a deal late Sunday for $3 billion in rescue financing from a group of bondholders, in a plan the lender hopes will stave off bankruptcy, a source close to the situation said.

Citigroup is facing fresh problems at its private-investments division over two funds that were overseen by Michael Froman, who left the bank's Alternative Investments unit in January to be a White House aide, the Wall Street Journal said.

Microsoft Corp will likely report the first annual sales dip in its history as a public company, but investors are looking beyond that for upbeat comments on Windows 7, signs of a tech sector recovery, and even a deal with Yahoo Inc to challenge Google Inc.

CIT Group was close to securing a deal with bondholders on Sunday which would relieve a liquidity crunch at the U.S. lender which threatens the bank with the prospect of filing for bankruptcy, the Wall Street Journal reported.

CIT Group Inc has reached a tentative deal with a bondholder group for $3 billion in rescue financing, which the lender hopes will help it avoid bankruptcy, sources close to the situation said on Sunday.

Earnings are set to take center stage again this week as more marquee U.S. companies line up to report their quarterly scorecards and investors decide whether to keep pushing stocks higher.

CIT Group Inc has reached a tentative deal with a bondholder group for $3 billion in rescue financing, which the lender hopes will help it avoid bankruptcy, a source close to the situation said on Sunday.

CIT Group Inc has cut a deal with its key bondholders for $3 billion in financing that will allow the 101-year-old lender to avoid bankruptcy, according to a headline on the Wall Street Journal's web site.

Several large investment firms are creating new lending companies that plan to go public to raise billions of dollars to take advantage of the distress in the commercial real estate market, and more are on the horizon.

Second-quarter U.S. gross domestic product figures are likely to be better than the first quarter, showing some signs of improvements in the economy, White House Budget Director Peter Orszag said on Sunday.