(Reuters) - Sales of previously owned homes rose to an 11-month high in December and the supply of properties on the market tumbled to a near 7-year low, pointing to a nascent recovery in the housing market. The National Association of Realtors said on Friday existing home sales increased 5 percent month over month to an annual rate of 4.61 million units.

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(Reuters) - Greece was closing in on an initial deal with private bond holders on Friday that would prevent it from tumbling into a chaotic default but lose investors up to 70 percent of the loans they have given to Athens. The agreement, to be followed up by technical talks over the weekend, could come later in the day, sources close to the negotiations said.

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(Reuters) - General Electric Co's (GE.N) fourth-quarter revenue fell short of Wall Street expectations, with Europe's weakening economy and weak sales of appliances as the main culprits. The largest U.S. conglomerate expects a volatile year but it plans to expand in emerging markets and cut back in Europe. Its shares fell 2.2 percent in premarket trading.

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(Reuters) - Oilfield services leader Schlumberger (SLB.N) reported a higher-than-expected rise in fourth-quarter earnings and remained cautiously optimistic about 2012 despite the potential for Europe's debt crisis to hurt economic growth and oil demand. Schlumberger shares rose as much as 4 percent to their highest level in six weeks, even though Chief Executive Officer Paal Kibsgaard warned that analysts' first-quarter profit expectations were on the "optimistic side."

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(Reuters) - U.S. stocks rose early Thursday, putting the S&P on track for its third straight advance after Bank of America and Morgan Stanley earnings lifted financials and strong demand at European bond auctions eased euro zone debt concerns. Bank of America Corp (BAC.N) climbed 4.4 percent to $7.10 as the top boost to the benchmark S&P. The bank reported a fourth-quarter profit, reversing a year-earlier loss, boosted by one-time items and lower expenses for bad loans.

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(Reuters) - The number of Americans filing for new jobless benefits dropped to a near four-year low last week, pointing to some building up of momentum in the labor market and the economy. But the upbeat economic outlook was dampened by other data on Thursday showing a drop in new residential construction in December after hefty gains the prior month.

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(Reuters) - Signs of improvement in the economy and gains from asset sales helped Bank of America Corp post a quarterly profit, sending its shares higher on Thursday, but the second-largest U.S. bank still needs more capital and with little left to sell, it is becoming creative. Bank of America said it was considering issuing $1 billion in common stock to certain employees in lieu of a portion of their year-end cash bonuses next month.

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(Reuters) - A special charge pushed Morgan Stanley (MS.N) into the red in the fourth quarter, but the Wall Street bank still posted better-than-expected results by cutting non- compensation costs, sending its shares higher. Morgan Stanley lost $275 million, or 15 cents per share, compared with earnings of $600 million, or 41 cents per share, a year earlier. The results included a loss of $1.7 billion, or 59 cents per share, related to a settlement with MBIA Inc (MBI.N), announced previously.

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NEW YORK (Reuters) Apple Inc unveiled a new digital textbook service called iBooks 2 on Thursday, aiming to revitalize the U.S. education market and quicken the adoption of its market-leading iPad. The consumer electronics giant has been working on digital textbooks with publishers Pearson PLC, McGraw-Hill and Houghton Mifflin Harcourt, a trio responsible for 90 percent of textbooks sold in the United States.

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(Reuters) - Stocks rose on Tuesday as improved sentiment about growth prospects in China overshadowed recent credit downgrades in Europe and a mixed bag of big bank earnings. China's economy expanded at the weakest pace in 2-1/2 years, data showed, suggesting officials may try to boost growth in the near term by tweaking monetary policy.

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