MARKET PULSE- Xerox, Bank of America, Potash Corp, Merit Medical
(For more market insights, including options activity, click on ; for the Day Ahead newsletter link.reuters.com/mex49s)
Oct 24 (Reuters) - U.S. stock index futures advanced on Thursday, indicating the S&P 500 will rebound from its first decline in the last six sessions, ahead of labor market and manufacturing data and a slew of corporate earnings. S&P 500 futures rose 7.9 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures gained 67 points and Nasdaq 100 futures added 14.75 points.
** BANK OF AMERICA CORP, Wednesday close $14.21, down 0.6 pct premarket
The bank was found liable for fraud on Wednesday over defective mortgages sold by its Countrywide unit. After a four-week trial, a federal jury in New York found the bank liable on one civil fraud charge. Countrywide originated shoddy home loans in a process called "Hustle" and sold them to U.S. government mortgage giants Fannie Mae and Freddie Mac , the government said. The U.S. Justice Department has said it would seek up to $848.2 million, the gross loss it said Fannie and Freddie suffered on the loans.
** GOLDMAN SACHS GROUP INC, Wednesday close $157.74, up 1.4 pct premarket
The company is working to bolster performance in fixed-income trading after a weak third quarter, and is looking for experienced salespeople and traders to improve the business, President and Chief Operating Officer Gary Cohn said in a Bloomberg Television interview on Wednesday. [ID: nL1N0ID1ZA]