U.S. stock futures on Friday held near two-week highs ahead of data that is expected to show the fewest jobs lost in 14 months.
S&P 500 futures rose a half point to 1063.70 and Nasdaq 100 futures rose 2 points to 1721.20. Futures on the Dow Jones Industrial Average rose 6 points.
U.S. stocks surged on Thursday after upbeat economic data and positive results from Cisco Systems, sending the Dow Jones Industrial Average back over the 10,000 mark with a 203 point outburst. The S&P 500 rose 20 points and the Nasdaq Composite surged 49 points.
Bank of America Merrill Lynch has appointed Randall Lynch as managing director within Americas industrial investment banking business. Mr Lynch is based in New York and reports to John Pratt, managing director and head of global diversified industries corporate and investment banking business. Bank of America Corp. (NYSE:BAC, $15.13, +$0.43, 2.93%) fell 1.52 percent to $14.90 on Friday morning pre-market trading session, while on Thursday, shares of Bank of America rose 2.93 percent, and closed on $15.13, BofA fell 10.79 percent in the past one month trading.
Citigroup Inc. plans to sell shares of Primerica Financial Services, one of the bank’s original businesses, through an initial public offering. The stock sale would initially raise as much as $100 million, New York-based Primerica said yesterday in a filing. The number of shares and the price weren’t disclosed. Citigroup Inc. (NYSE:C, $4.06, +$0.09, 2.27%) droped 2.71 percent to $3.96 on Friday morning pre-market trading session, while on Thursday, Citigroup shares were up 2.27 percent and closed on $4.06.
J.P. Morgan Chase & Co.’s portfolio of consumer loans will continue to shrink into next year as the mortgage market keeps cooling. Charlie Scharf, chief executive of the bank’s retail financial services division, told investors at the BancAnalysts Association of Boston Conference that originations of home-equity loans and prime mortgages in particular are “substantially lower” and retail loans overall may fall between 10% and 15% into next year. JPMorgan Chase & Co. (NYSE:JPM, $43.87, +$1.66, 3.93%) fell 1.64 percent to $43.15 on Friday morning pre-market trading session, while on Thursday, shares of JPMorgan rose 3.93 percent, and closed on $43.87.
Government-controlled Royal Bank of Scotland Group PLC on Friday reported a net loss of 1.8 billion pounds ($3 billion) despite an improvement in underlying profits and said lending to small- and medium-sized companies increased 5 percent. For the three months ending Sept. 30, RBS reported total income of 7.1 billion pounds, compared to 8.6 billion pounds a year earlier. Royal Bank of Scotland Group plc (NYSE:RBS, $11.88, $0.00, 0.00%) jumped 1.43 percent to $13.05 on Friday morning pre-market trading session, while on Thursday, RBS shares closed on $11.88 without any changes.
The Blackstone Group and mall REIT, Glimcher Realty Trust, entered into a joint venture agreement. Blackstone would acquire a 60% stake in the properties, while Glimcher would maintain a 40% stake. Blackstone’s 60% acquisition price would be approximately $192 million, including the assumption of $130.8 million in debt. The Blackstone Group L.P. (NYSE:BX, $13.87, +$0.10, 0.73%) fell 1.95 percent to $13.50 on Friday morning pre-market trading session, while on Thursday, shares of Blackstone rose 0.73 percent, and closed on $13.87.
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