U.S. stock index futures point to flat open

LONDON Fri Jan 11, 2013 10:03am GMT

LONDON Jan 11 (Reuters) - U.S. stock index futures indicated a flat-to-slightly lower open on Wall Street on Friday, with some traders citing nervousness ahead of results from financial group Wells Fargo due later in the day.

Futures for the S&P 500 and Nasdaq 100 were flat by 0930 GMT, while futures for the Dow Jones were 0.1 percent lower.

"There's maybe a little bit of nervousness ahead of Wells Fargo's results," said Darren Easton, director of trading at London-based firm Logic Investments.

* Boeing Co's 787 Dreamliner jet suffered a cracked cockpit window and an oil leak on separate flights in Japan on Friday - the latest in a series of incidents to test confidence in the sophisticated new aircraft.

* Infosys Ltd posted flat third-quarter net profits, beating analyst expectations, as the second-largest Indian software services provider maintained margins despite higher operating costs. It also raised revenue forecast for the full year to end March.

* Credit card company American Express Co said it would cut about 5,400 jobs, or 8.5 percent of its workforce, as it restructures its business and pays legal bills.

* SAC Capital Advisors expects client withdrawals of at least $1 billion in 2013 as the hedge fund battles intense regulatory scrutiny over insider trading allegations, the Wall Street Journal reported on Friday.

* Unsecured creditors of MF Global Holdings Ltd on Thursday proposed a liquidation plan that could pay the brokerage's former customers in full.

* Exxon Mobil Corp reported flaring at its 344,500 barrel-per-day (bpd) Beaumont, Texas, refinery, according to a message posted on a community information line.

* Tycoon Carlos Slim's retail unit said it plans to relist on the Mexican stock exchange, offering a 15.2 percent stake to raise some $720 million to fund expansion plans, including possible acquisitions.

* Supervalu Inc struck a $3.3 billion deal to reduce its burdensome debt by selling five of its supermarket chains to an investor group led by Cerberus Capital Management LP .

* The Federal Reserve's policy of zero interest rates and asset purchases is appropriate and perhaps even insufficient, said Narayana Kocherlakota, president of the Minneapolis Fed.

* European shares were flat on Friday although the pan-European FTSEurofirst 300 index remained within sight of two-year highs.

* Asian shares and Brent crude futures fell as a pick-up in Chinese inflation prompted profit taking, although an improving outlook for global economies curbed losses.

* U.S. stocks rose on Thursday and the S&P 500 ended at a fresh five-year high as stronger-than-expected exports from China spurred optimism about global growth prospects.

* The Dow Jones industrial average gained 80.71 points, or 0.60 percent, to 13,471.22. The Standard & Poor's 500 Index rose 11.10 points, or 0.76 percent, to 1,472.12. The Nasdaq Composite Index added 15.95 points, or 0.51 percent, to 3,121.76.


After wave of QE, onus shifts to leaders to boost economy

DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.