A Quick Glance at News

v German Chancellor Angela Merkel said Thursday her country is committed to doing what it can to maintain the euro.

v Most Chinese stocks fell as data showing slumping foreign investment boosted concern the economic slowdown is deepening, overshadowing comments from Premier Wen Jiabao that there is more room to adjust monetary policy

v Shares firmed on Friday as German Chancellor Angela Merkel voiced support for the European Central Bank's efforts to contain the debt crisis in the euro zone, soothing investor nerves and prompting them to shift money to riskier assets.

v The S&P 500 closed at its highest level since early April on Thursday after comments from German Chancellor Angela Merkel that appeared to support the European Central Bank's efforts to fight the region's debt crisis, while Cisco Systems jumped after it raised its dividend.

v Top officials at two of the Federal Reserve's most hawkish regional banks weighed in against further monetary policy easing, and a third on Thursday suggested the Fed may not need to wait until late 2014 before raising interest rates.

v Japan's Nikkei share average struck a three-month closing high on Friday as risk appetite increased after comments from German Chancellor Angela Merkel suggested she supports the European Central Bank's efforts to tackle the euro zone debt crisis.

v Most European stocks advanced, with the Stoxx Europe 600 Index heading for its 11th weekly rally, as investors awaited reports on American consumer confidence and leading economic indicators. U.S. index futures were little changed, while Asian shares rose.

v China might not be able to cut interest rates if the Yuan weakens further, according to Moody’s, which says the end of the strong Chinese currency era could limit Beijing’s policy actions.

v Brent crude slipped below $114 on Friday as supply worries eased on a possible release of oil reserves by the United States while Israeli comments on Iran reduced fears of a potential conflict in the Middle East that could disrupt exports.

v Gold traded steady on Friday, holding on to gains in the previous session from its biggest daily rise in two weeks on German Chancellor Angela Merkel's support for more action by the European Central Bank to contain the bloc's debt crisis.

v Face book Inc shares sank 6.3 percent to a record closing low after early investors got the green light to sell for the first time since the No. 1 social network went public, starting a string of insider lockup expirations that will pressure the stock for months.

v Gap Inc. (GPS), the largest U.S. specialty-apparel retailer, reported a 29 percent rise in quarterly profit that topped analyst estimates, aided by domestic sales, and raised its full-year earnings forecast.

v An Indiana union pension fund that owns shares in Wal-Mart Stores Inc has sued the company to gain access to thousands of internal documents related to allegations that a Wal-Mart subsidiary bribed Mexican government officials.