Reuters Market Eye - The BSE Sensex runs the risk of some consolidation after indexes ended at their highest close since November 2010 on Friday. Earnings will be key, with Coal India Ltd , State Bank of India Ltd and Jet Airways Ltd set to report next week. Investors will also be eyeing whether strong foreign buying continues. Overseas investors were net buyers for 21 consecutive sessions as of Thursday, bringing their net purchases for the year to about $13 billion, according to regulatory data. ...

By Angela Moon NEW YORK (Reuters) - With the broad S&P 500 Index gliding once again into uncharted territory and posting four straight weeks of gains, the talk of Wall Street's rally inevitably hitting a ceiling is starting to get old. Concerns about a technical correction have been a hot topic for weeks, especially as the rally accelerated in May - the S&P 500 is up 4.4 percent so far this month and up nearly 17 percent for the year. But as the three major U.S. stock indexes inch higher and higher to set record after record, many analysts are shrugging off the pullback worries. ...

By Leah Schnurr NEW YORK (Reuters) - U.S. stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. The indexes have pushed to a series of never-before-seen levels as part of the rally that has lifted equities more than 16 percent for the year so far. ...

NEW YORK (AP) — Encouraging news about the U.S. economy extended the stock market's rally Friday.

By Leah Schnurr NEW YORK (Reuters) - Stocks continued their climb into uncharted territory on Friday, racking up the fourth week of gains in a row as encouraging economic data prompted investors to pick up shares of growth companies. The Dow and the S&P 500 finished at fresh record highs, driven by gains in energy and industrial shares. The indexes have pushed to a series of never-before-seen levels as part of the rally that has lifted equities more than 16 percent for the year so far. ...

NEW YORK (Reuters) - Wall Street bonuses and staff levels are expected to rise this year as trading and dealmaking activity pick up, according to a closely watched report released on Friday by a compensation consulting firm. Johnson Associates Inc predicts that senior bank executives will receive bonus increases of 5 percent to 15 percent, with investment bankers getting the biggest potential bonus increases of up to 20 percent. ...

By Herbert Lash NEW YORK (Reuters) - Global equity markets rose and the dollar soared against a basket of currencies on Friday, reaching a nearly three-year peak, as speculation mounted over whether the Federal Reserve would soon begin to rein in its asset-buying program. Wall Street opened higher, with the benchmark S&P 500 rebounding from its worst decline in nearly three weeks, following gains in European shares that were lifted by carmakers cheered on by signs of a revival in domestic sales. Also lifting stocks was a survey that showed a rebound in U.S. ...

NEW YORK (AP) — Stocks are slightly higher in early trading on Wall Street, even as several big retailers slumped after reporting disappointing earnings.

By Suvashree Dey Choudhury and Shamik Paul MUMBAI (Reuters) - Standard & Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade. The rating agency said the main drag on India's rating is a high fiscal deficit and heavy government borrowing, although it also said India's position had improved over the past year. S&P's statement came as Finance Minister P. ...

MUMBAI (Reuters) - Standard & Poor's expects India to grow around 6 percent in the current fiscal year ending March 2014, said credit analyst Takahira Ogawa. The rating agency also does not expects any significant improvement in structural reforms in India, Ogawa said in a teleconference, after reiterating in a release the negative outlook on India's credit rating, which is one notch above junk status. (Reporting by Suvashree Dey Choudhury; Editing by Prateek Chatterjee)

Reuters Market Eye - Coal India Ltd may beat Jan-March earnings consensus forecast when it reports results on Monday, according to Thomson Reuters StarMine data. StarMine's SmartEstimates, which place greater emphasis on forecasts by top-rated analysts, expects Coal India to report a profit of 52.91 billion rupees for the quarter compared with a wider consensus mean estimate of 49.97 billion rupees. Shares in Coal India were roughly flat at 2:09 p.m.

By David Brett LONDON (Reuters) - The dollar held firm near a 10-month high versus a basket of currencies on Friday and European shares fell after a regional Federal Reserve chief said the U.S. central bank may begin to taper its asset buying this summer. European shares were down 0.2 percent at 1,242.49, edging further back from five-year highs and following a retreat in Asian stocks and Thursday's late fall on Wall Street, but still on track for a weekly gain. "The stock market is driven by liquidity and sooner or later this must end," KBC senior economist Koen De Leus said. ...

By Phil Wahba (Reuters) - J.C. Penney Co Inc Chief Executive Myron Ullman told Wall Street on Thursday that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer. Penney reported another steep quarterly loss on weak sales and heavy clearance deals, but Ullman said the company has taken steps in recent weeks to reassure vendors, shore up its finances, and win back shoppers that defected after a move last year away from coupons. ...

NEW YORK (AP) — Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday.