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March 16, 2012 at 09:16 AM EDT
Futures Higher Despite Consumer Price Spike; Banks May Buy AIG Assets
Gasoline prices caused a surge in U.S. consumer prices in February, data showed Friday, though the level was a bit lower than expected and markets looked to open higher. Futures on the Dow Jones Industrial Average rose 39 points to 13,211. On the Standard & Poor’s 500, futures opened at 1,395.80 and were up 4 [...]

Gasoline prices caused a surge in U.S. consumer prices in February, data showed Friday, though the level was a bit lower than expected and markets looked to open higher.

Futures on the Dow Jones Industrial Average rose 39 points to 13,211. On the Standard & Poor’s 500, futures opened at 1,395.80 and were up 4 points to 1400,  one day after crossing the 1400 mark for the first time since 2008.

Goldman Sachs (GS), Credit Suisse (CS) and a unit of Barclays may be interested in buying mortgage-backed assets tied to American International Group (AIG), according to unnamed sources who spoke with the Wall Street Journal.

Details emerged Friday that Italy unwound derivatives contracts going back to the 1990s when it paid $3.4 billion to Morgan Stanley (MS). The bank had said in January that it cut its net exposure to Italy by that amount in January, but didn’t say the entire amount was due to bets on interest rates by the second-most indebted country in the European Union, according to a piece by Bloomberg.

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