CITIGROUP

NEW YORK - U.S. stocks fell on Friday as uncertainty about how the government will help clean up bank balance sheets tempered earlier optimism and hurt financial shares, while large-cap techs weighed.

U.S. stocks fell on Friday as uncertainty about how the government will help clean up bank balance sheets tempered earlier optimism and hurt financial shares, while large-cap techs weighed.

The Dow and the S&P 500 stock indexes rose for a fourth straight day on Friday after Citigroup said it did not need any more government aid, bolstering hopes that stabilization is returning to banking.

Citigroup Inc Chairman Richard Parsons said on Thursday that the bank does not need any more capital injections from the government and expressed confidence that Citi would remain in private hands.

Stock index futures pointed to a fourth straight day of gains on Friday after Citigroup said it did not need any more government capital infusions, bolstering investor optimism that banks might be seeing some stabilization.

Citigroup Inc is preparing to nominate some four new members to its board, including former U.S. Bancorp chief executive Jerry Grundhofer, as soon as next week, according to the Wall Street Journal.

Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while retail sales data showed some stabilization in consumer spending.

Bank of America Corp Chief Executive Kenneth Lewis said on Thursday the largest U.S. bank was profitable in January and February and said it should be able to ride out the recession without new help from the nation's taxpayers.

Stocks rose for a third day on Thursday on relief that a ratings cut by S&P in General Electric was just one notch and that no further cuts loomed, while data showed some stabilization in consumer spending.

Fannie Mae, the largest provider of funding for U.S. residential mortgages, said on Thursday it sold $9 billion in new five-year benchmark notes, a record size for this maturity.

On Wednesday U.S. stocks continued their rise after being boosted by banks renewing investor hopes in the financial sector.

Merrill Lynch & Co may have misled Congress in representing last November that it planned to pay out bonuses at year end, when in fact it decided to accelerate those payouts, New York Attorney General Andrew Cuomo said on Wednesday.

Merrill Lynch & Co traders may have booked hefty losses late last year only after learning of their 2008 bonuses, but executives chose not to revisit their decision to pay out $3.62 billion of bonuses, New York Attorney General Andrew Cuomo said on Wednesday.

Not long ago, Americans were being offered as much as $100 just to sign up for a credit card. Now, up to $300 is being dangled as an incentive for them to give up their plastic. U.S. credit card issues are slashing rewards, raising interest rates and increasing fees as loan losses mount.

Bank of America Corp has put a private bank it inherited from Merrill Lynch & Co on the block, and the largest U.S. bank may try to sell other assets as well.

U.S. stocks edged higher in bumpy trading on Wednesday as a rise in technology shares helped temper unease about whether the government would soon lay out a plan to restore confidence in the banking system.

Stocks rose on Wednesday, with the benchmark S&P 500 index attempting the first two-day advance in a month, as investors held out hope that Washington would restore confidence in banks by relieving them of money-losing assets.

U.S. stocks rose on Wednesday, with the benchmark S&P 500 index attempting its first two-day advance in a month, as investors bet Washington would restore confidence in banks by relieving them of money-losing assets.

Stocks rose on Wednesday, with the benchmark S&P 500 index attempting its first two-day advance in a month, as investors bet Washington would restore confidence in banks by relieving them of money-losing assets.

The world's advanced economies are moving too slowly in ridding banks of problem assets, which could jeopardize a global economic recovery in 2010, the head of the International Monetary Fund said on Wednesday.

Stocks headed for a higher open on Wednesday, with financials set to lead another climb as investors bet Washington will soon restore confidence in banks by relieving them of money-losing assets.