MARKETS / FINANCE

The Dow industrials briefly turned negative in late afternoon trading on Monday and the S&P 500 extended losses as bank shares continued to slide, weighed by the uncertainty surrounding a financial regulation proposal.

Republicans will eventually vote for financial reform, paving the way for the completion this year of a massive rewrite of rules for banks and financial markets, the head of the American Bankers Association said on Monday.

BlackRock Inc , the giant money management firm, reported weaker-than-expected quarterly earnings as its funds businesses saw outflows and customers shifted to passive funds over more actively-managed ones.

Pay czar Kenneth Feinberg sees early signs some Wall Street firms are voluntarily toughening up on the way they pay executives, but he cautions it remains to be seen whether such behavior becomes permanent.

Republicans will eventually vote for financial reform, paving the way for the completion this year of a massive rewrite of rules for banks and financial markets, the head of the American Bankers Association said on Monday.

The Dow industrials rose on Monday on Caterpillar's strong results, while weak bank shares left the broad S&P 500 index little changed.

Caterpillar Inc reported a stronger-than-expected quarterly profit on Monday and raised its full-year profit and sales forecasts, citing an improving global economy, especially in Asia and Latin America.

Differences over how Europe and the United States plan to regulate derivatives is muddying the picture for buyers, who could be saddled with higher costs, a top industry official told the Reuters Global Financial Regulation Summit.

Germany said on Monday it could offer aid for Greece within days if it agreed to painful new austerity measures, but rescue jitters pushed the cost of insuring against a Greek debt default to a record high.

BlackRock Inc ., the giant money management firm, reported weaker-than-expected quarterly earnings as its quantitative and cash management funds businesses saw outflows.

The most sweeping overhaul of financial regulation since the Great Depression was on track to fail its first procedural test on Monday in the Senate, where Republicans vowed to block the Democratic bill.

Germany set tough terms on Monday for Greece to secure emergency aid, increasing uncertainty over a financial rescue that pushed the cost of insuring against a Greek debt default to a record high.

The Dow industrials rose on Monday on strong results from Caterpillar, while weakness in financial shares left the broad S&P 500 index little changed.

Caterpillar Inc reported a stronger-than-expected quarterly profit on Monday and raised its full-year sales forecast above Wall Street estimates, citing an improving global economy, especially in Asia and Latin America.

Germany called on Monday for a financial rescue to be ready for Greece by a May 19 debt deadline after uncertainty over the terms and implementation of the aid package pushed Athens' borrowing costs up to a 12-year high.

Caterpillar Inc , the world's largest maker of earth-moving equipment, reported stronger-than-expected quarterly profit on Monday and raised its full-year forecast, saying economic conditions are definitely improving, especially in Asia and Latin America.

Fabrice Tourre and his girlfriend talked like a couple very much in love.

More U.S. companies plan to increase their work force over the next six months, a survey showed on Monday, which could lead to a stronger recovery.

Caterpillar Inc reported a stronger-than-expected quarterly profit on Monday and raised its full-year sales forecast above Wall Street estimates, citing an improving global economy, especially in Asia and Latin America.

U.S. stock index futures pointed to a higher open on Monday on a flurry of merger-and-acquisition activity and after Caterpillar reported stronger-than-expected quarterly profit.

If the U.S. Congress approves financial regulation reform -- and that looks likely to happen soon -- banking stands to become a duller business.

Uncertainty over an aid package for Greece pushed up its borrowing costs to a 12-year high on Monday, with demands from Germany for further austerity measures before aid is granted heightening the tension.

U.S. stock index futures rose on Monday after a new flurry of merger-and-acquisition activity and Caterpillar reported stronger-than-expected quarterly profit.

U.S. stock index futures were modestly higher on Monday, the first session after hitting a 19-month high, as investors awaited key earnings reports and a Greek official said an aid package would help avert a sovereign debt default.

Whirlpool Corp's quarterly profit blew past estimates on strong sales in North America, Brazil and Asia, prompting the world's largest appliance maker to raise its full-year outlook.

Stock index futures pointed to a higher open on Wall Street on Monday, with futures for the S&P 500 up 0.16 percent, Dow Jones futures up 0.16 percent and Nasdaq 100 futures up 0.1 percent at 5:06 a.m. ET.

World stocks bounced sharply higher on Monday as a raft of U.S. data showed economic recovery was gathering strength, but investors remained wary over Greece's debt bailout plans.

The euro stabilized on Monday and Asian share markets rose after Greece requested emergency aid and as a raft of U.S. data showed its economic recovery was gathering strength.

German Chancellor Angela Merkel's ruling coalition will back Greek aid because the euro's future is at stake, but Greece must first prove it is tackling its budget deficit, a senior official in her party said.