U.S. stock futures traded marginally lower as the Group of 20 meeting in Paris got under way. Read about the G-20’s hot topics.| Read Indications for more U.S. market action.
Global markets
Stocks in Europe let go of early gains, stalling a five-session run. In Asia, China again hiked the ratio of reserves it requires banks to set aside. Beijing’s monetary-policy move came after markets closed there. See Europe Markets. | Asia Markets.
Breaking news
An exchange-traded fund that plans to invest in smartphone companies was expected to list on the Nasdaq Friday. Read more about the new smartphone ETF.
Campbell Soup Co. (CPB 33.40, -1.54, -4.41%) reported a second-quarter profit of $239 million, or 71 cents a share, compared with $259 million, or 74 cents a share, in the year-ago period.
Crude-oil futures were in positive territory, near $89.49 a barrel.
Federal Reserve Chairman Ben Bernanke defended the central bank’s $600 billion bond-buying program, also known as QE2. See story on Bernanke at G-20.
Ford Motor Co. (F 16.06, +0.09, +0.56%) said it was planning a joint venture with Russian car group Sollers OJSC, which would start operations at the end of 2011.
Progress Energy Inc. said its fourth-quarter earnings dropped to $125 million, or 42 cents a share, from $154 million, or 55 cents a share, in the year-ago period.
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