Stocks head to monthly losses; S&P's close a focus

Date: Fri, 27 Feb 2009 12:01:42 -0500

Stocks head to monthly losses; S&P's close a focus

As stocks on Friday dip towards another month of losses, investors
were especially focused on the S&P 500 Index and whether the broad
market gauge would close above or below its November lows, with a
finish above 750 seen as a victory of sorts.

GOVERNMENT TO BOOST STAKE IN CITIGROUP TO 36%; SHARES PLUNGE

Shares of Citigroup tumble. The company says the government agrees to
a deal to boost its stake to about 36%, touching off investor fears
about dilution. Citi. also reports another $10 billion in
fourth-quarter losses and says it will suspend the payment of
dividends on common and preferred stock.

ECONOMIC REPORT: GDP REVISED TO DECLINE OF 6.2% IN FOURTH QUARTER, U.S. SAYS

The U.S. economy hit on virtually no cylinders in the fourth quarter,
as gross domestic product falls at the fastest pace since 1982 on
sharp declines in consumer spending, investment and exports,
government data show.

GOLD, DOLLAR BREAK WITH PAST AS SAFETY BUYING SPURS BOTH HIGHER

Gold prices, which in recent years have charted moves in the opposite
direction to the U.S. dollar, have been mostly moving in tandem with
the greenback this year, the latest surprise twist in what's been a
tumultuous past year for commodities traders.

WORLD BANK, OTHERS PLEDGE $31.2 BILLION AID FOR EASTERN EUROPE

At a time of growing concern about the region's economic prospects,
the World Bank, the European Bank for Reconstruction and Development
and the European Investment Bank pledge up to $31.2 billion to support
Eastern Europe's banking. sector and to fund business loans.