INVESTMENT

Stock index futures pointed to a lower open on Friday as disappointing results from Microsoft Corp and American Express Co curbed sentiment a day after a rally took the Dow industrials above the key 9,000 mark.

Stock index futures pointed to a mixed open on Friday as disappointing results from Microsoft Corp and Amazon.com Inc curbed sentiment a day after a rally took the Dow industrials above the key 9,000 mark.

Stock index futures rose slightly on Friday despite disappointing results from Microsoft Corp and Amazon.com Inc , a day after a rally took the Dow industrials above 9,000.

U.S. criminal authorities are probing whether Corey Ribotsky, Managing Member of NIR Group, a Roslyn, New York hedge-fund, defrauded investors about their returns and the holdings of his various funds, the Wall Street Journal reported, citing people familiar with the matter.

U.S. stocks surged on Thursday, driving the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.

The National Association of Realtors (NAR) on Thursday announced that sales of existing homes in the U.S. rose for the third consecutive month in June, suggesting that the troubled housing market may be hitting bottom, private data showed Thursday. The value of existing single-family home and condominium sales continue to fall according to the Florida Association of realtors (FAR). According to FAR the median price, however, skidded 59 percent, from $132,900 in June 2008 to $54,500 in June 2009....

Equity investors are too negative about the hedge fund industry, says Neptune's Jeremy Smith, who has recently bought shares in Man Group and expects more consolidation among traditional fund firms.

BBMG Corp, a leading building materials maker in China, on Thursday raised $768 million in a Hong Kong IPO at the top end of an indicated range, sources said, becoming one of the largest such deals this year and setting a positive tone for other big listings to follow.

Stocks rose on Thursday, with the Dow industrials breaking the key 9,000 mark, as investors saw strong quarterly results, including from 3M Co , and improving home sales data as signs the economy is stabilizing.

Dutch bank ING Group has hired JPMorgan to advise on the sale of ING's private banking business in Europe and Asia, which could fetch more than $1 billion, sources told Reuters on Thursday.

Officials from MTN are meeting India's capital market watchdog and stock exchanges to understand regulatory issues on a proposed deal between the South African firm and Bharti Airtel, the Economic Times reported on Thursday.

Stock index futures rose on Thursday as quarterly results, including a brighter outlook from 3M Co, gave investors confidence that the earnings season will remain strong ahead of key jobs and housing market data.

Stock index futures rose slightly on Thursday as investors remained positive following an overall strong earnings season and ahead of results from United Parcel Service Inc and McDonald's Corp .

World stocks rose close to the previous session's nine-month high and oil edged up on Thursday as forecast-beating earnings from major firms raised expectations for a global economic recovery. Swiss bank Credit Suisse's higher-than-expected second-quarter profits and drugmaker Roche's bullish two-year forecast followed solid reports in the United States from Apple and Starbucks on Wednesday.

Asian stocks climbed to a 10-month high on Thursday led by energy shares, though some investors wondered if upward momentum from corporate earnings reports justified increasingly pricey valuations.

Federal Reserve chairman, Ben Bernanke spoke Wednesday for a second day of testimony on the Fed's semiannual monetary policy report. Bernanke tried to assure members of congress that the economy was on the mend and that tackling the rising unemployment rate is one of the most difficult and challenging parts of our task at this point. The overall economic situation remains very poor, he said. The Fed expects the recovery to start off very slow and pick up speed over time, he said.

A Chinese firm has signed a $3.6 billion investment Promotion and Protection Agreement (IPPA) with Zambia in copper exploration and mining industry, a senior investment official said on Wednesday.

Wells Fargo & Co and other major U.S. banks said the troubled economy drove big increases in loan losses, reducing second-quarter earnings.

Goldman Sachs Group Inc announced on Wednesday it has redeemed the warrants under the TARP's Capital Purchase Program at $1.1 billion.

The Beijing municipal government will fully support a bid by Beijing Automotive Industry Holding Corp (BAIC) for Ford Motor's Volvo car unit if the Chinese automaker fails in its current quest for General Motors' Opel, sources said on Wednesday.

Investment gains are likely to boost valuations of U.S. property-casualty insurers when they report second-quarter results, after bruising investment losses marred recent quarters.