GOLDMAN SACHS

Stock futures fell on Monday after Goldman Sachs added Citigroup Inc to its sell list, citing prospects for more credit losses at the No. 1 U.S. bank.

Stock index futures on Friday signaled a bounce-back after recent losses, while investor worries about weakening consumer spending and credit market losses could limit gains.

The impact of the U.S. mortgage market crisis on the underlying economy could be dramatic as leveraged investors may need to scale back lending by up to $2 trillion, according to investment bank Goldman Sachs.

Major finance houses went some way on Wednesday to reassure investors that after months of credit market havoc, fallout from the U.S. subprime mortgage meltdown is containable.

Merrill Lynch & Co Inc on Wednesday named NYSE Euronext Chief Executive John Thain as its new CEO, a move that acknowledges it needed an outsider with a Goldman Sachs pedigree to repair an image battered by wrong-way bets on subprime mortgages. Thain, 52, replaces Stan O'Neal, who was ousted as Merrill's CEO and chairman last month after the company wrote down $8.4 billion in assets during the third quarter.

U.S. stocks snapped a four-day losing streak on Tuesday with Nasdaq notching its biggest gain in more than four years after news that Apple Inc was in talks to offer iPhones in China sent investors bargain hunting among battered technology stocks. years after news that Apple Inc was in talks to offer iPhones in China sent investors bargain hunting among battered technology stocks.

Bank of America Corp, the second-largest U.S. bank, said on Tuesday it expects to write down $3 billion of debt in the fourth quarter as fallout from the nation's housing slump deepens.

Stocks, rebounding from a string of losses, rose 1 percent on Tuesday on higher-than-expected profit at Wal-Mart Stores Inc and oil prices below $93 a barrel.

Goldman Sachs has 6.9 percent, or $72 billion of its $1.05 trillion in assets in hard-to-value Level 3 assets, according to securities filings.

U.S. oil slid below $95 on Monday after top exporter Saudi Arabia said OPEC would look at raising output to brake oil's ascent towards $100 and safeguard world economic growth.

Robert Rubin is widely acclaimed as best-suited to rescue the struggling bank, but questions remain.

Stocks rose on Tuesday as oil prices topped $97 a barrel and lifted shares of Exxon Mobil Corp and other energy producers, while optimism a day ahead of Cisco Systems Inc earnings drove another rally in technology shares. Investors hunted for bargains among beaten-down bank and financial services shares after the previous session's sell-off left the sector near two-year lows.

Stocks erased gains and were little changed on Tuesday as a brokerage's dour view on Microsoft Corp weighed on technology shares, while investors worried that record crude oil prices could squeeze consumers and corporations.

Stocks fell on Monday after Citigroup's warning of billions more in loan losses compounded fears that the credit crunch could get worse. The news sparked a sell-off in shares of other financial companies as investors questioned which among them would be the next to reveal damage from the meltdown in the U.S. housing and subprime mortgage markets.

Charles Prince resigned on Sunday as chairman and chief executive of Citigroup Inc, as the bank said it may write off $11 billion of subprime mortgage losses, on top of a $6.5 billion write-down last quarter. Robert Rubin, the former U.S. Treasury Secretary who had chaired Citigroup's executive committee, was named chairman, while Sir Win Bischoff, who runs Citigroup's European operations, was named acting chief executive.

China National Chemical Corp (ChemChina) and U.S. private equity firms offered up to A$3 billion ($2.75 billion) on Monday for Australia's Nufarm Ltd, a deal that would create the world's largest generic farm chemicals firm.

Futures on benchmark U.S. stock market indexes fell before Wall Street's opening on Monday, with the focus on Citigroup after news of CEO Charles Prince's resignation. The largest U.S. bank said it may write off $11 billion of subprime mortgage losses on top of a $6.5 billion write-down last quarter.

Charles Prince resigned on Sunday as chairman and chief executive of Citigroup Inc, as the bank said it may write off $11 billion of subprime mortgage losses, on top of a $6.5 billion write-down last quarter.

Citigroup Inc's board of directors is holding an emergency meeting this weekend, Dow Jones reported on Friday.

Stocks fell on Friday as gains from an unexpectedly strong jobs report were quickly overwhelmed by fears of more fallout from the credit crisis.

Wall Street bankers are flocking to the Middle East, and it's not for oil or the balmy weather.