AP - President-elect Barack Obama is likely to name Timothy Geithner, president of the New York Federal Reserve, as Treasury Secretary in a time of intense economic turmoil as he rounds out the upper echelon of his Cabinet, a senior Democratic official familiar with the deliberations said Friday.

AP - Wall Street is ending a volatile week with an unexpected jolt of confidence following reports that President-elect Barack Obama plans to name New York Federal Reserve President Timothy Geithner as Treasury secretary. The major indexes have jumped more than 5 percent, with the Dow Jones industrials surging nearly 500 points.

Reuters - Citigroup Inc shares tumbled for a fifth straight day, as Chief Executive Vikram Pandit tried to downplay speculation the banking giant might sell major businesses to restore its health and investor confidence.

Reuters - Stocks surged on Friday to cap another volatile week as investors greeted with relief reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, lifting a major uncertainty from markets.