(12-03) 04:13 PST New York (AP) —

U.S. stocks headed for a narrowly mixed opening Monday as Wall Street awaits important economic readings to determine whether last week’s rebound will continue.

The Dow Jones industrial average showed its biggest weekly point gain in more than four years last week, rising nearly 391 points, or 3.01 percent. Investors moved back into stocks after comments from Federal Reserve officials stirred hopes the central bank would lower short-term interest rates when it meets next week.

Also, Wall Street took comfort from news that Citigroup Inc., Freddie Mac and E-Trade Financial Corp. were able to raise cash to offset some of their debt.

Investors on Monday are due to receive a reading on manufacturing after the opening bell. Economists expect the November report on the manufacturing sector will show growth has slowed amid further difficulty in the housing sector.

The Institute for Supply Management Д a trade group of purchasing executives Д is expected to report that its index of manufacturing business activity fell to 50.4 in November from 50.9 in October, according to the consensus estimate of Wall Street economists surveyed by Thomson Financial/IFR. A showing above 50 signals expansion in the sector, while a reading below 50 indicates contraction.

Investors will also be awaiting the important November employment report, which is due Friday. Wall Street regards consumer spending as crucial to maintaining economic growth, particularly during what is for many retailers the busiest time of the year.

Dow Jones industrial average futures fell 4, or 0.03 percent, to 13,418. Standard & Poor’s 500 index futures fell 0.80, or 0.05 percent, to 1,484.50. Nasdaq 100 futures rose 3.00, or 0.14 percent, to 2,097.50.

Bonds prices fell, with the yield on the benchmark 10-year Treasury note rising to 3.95 percent from 3.94 percent late Friday. Bond prices and yields move in opposite directions.

The dollar was lower against other major currencies, while gold prices fell.

Light, sweet crude fell 79 cents to $87.92 per barrel in premarket electronic trading on the New York Mercantile Exchange.

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Federal bill aims to create 1 million teen summer jobs

Facing a rising unemployment rate and a weak economy, congressional Democrats on Wednesday called for a $1 billion federal program to create 1 million more summer jobs for teens.

The program would create jobs for people ages 16 to 19 at hospitals, parks, and day care and senior centers.

The money would go to the Department of Labor and then to local workforce councils through the Workforce Investment Act, which already allocates funds based on unemployment rates.

Sen. Patty Murray, D-Wash., said her legislation would reduce unemployment, provide valuable work experience for teens and reinvigorate the economy.

Murray cited numbers from the federal Bureau of Labor Statistics showing that the unemployment rate for teens is higher than the rest of the population, hovering around 17 percent, up from 13 percent in 2006. She said it exceeds 30 percent among African American teens, up from 20 percent in 2006.

Congress has previously approved $924 million for this program, which means that Murray’s $1 billion proposal would more than double federal funding.

But it faces an uphill battle because President Bush has threatened to veto any new economic stimulus package.

The national unemployment rate reached 5.1 percent last month, up from 4.4 percent a year ago.

Hearst Newspapers Safeway restricting Chilean salmon

Safeway has restricted some purchases of farm-raised Chilean salmon over concern about a virus that is killing millions of fish there.

The Pleasanton supermarket chain decided to stop buying from its Chilean supplier, Marine Harvest, because infectious salmon anemia was “impacting the quality of the product,” said Brian Dowling, a Safeway spokesman. Dowling said the virus, which does not pose a risk to humans, was affecting the size of the salmon, “which impacts the quality and the taste.”

Safeway decided to restrict purchases of Chilean salmon after a New York Times story reported the spread of the virus and detailed concerns by biologists and environmentalists about the elevated use of antibiotics in the country’s salmon industry. The story also reported researchers’ claims that salmon farms were contaminating fishing waters and potentially spawning more diseases among the fish.

New York Times New Gap CEO’s pay package $39 million

Gap Inc. Chairman and Chief Executive Officer Glenn Murphy received compensation worth $39.1 million last year - most of it in stock grants tied to the company’s future performance, according to documents filed Wednesday with the Securities and Exchange Commission.

Gap also paid Murphy $2.1 million in bonuses, including $1 million for taking the job, to supplement his $755,769 salary for a half year’s work. He received miscellaneous compensation of $363,593, including $50,000 to pay the lawyers who negotiated his contract and $182,301 for the personal usage of a company plane.

Because Murphy and his family still haven’t moved from Toronto, Gap will spend up to $400,000 during the current fiscal year to cover their air travel.

The San Francisco company hired Murphy in July to replace interim CEO Robert Fisher.

Associated Press Toys, dumplings, S’morestick recalled

About 9,000 Western Rider push toys, manufactured in China and imported by Santa’s Toy Corp., were recalled because surface paint on portions of the toys contain excessive levels of lead, which is toxic if ingested by children. The toys were sold at dollar and discount stores around the country between February 2005 and February 2008. For details, call (800) 638-2772 or see «www.cpsc.gov».

Grand Carnival LLC is recalling S’morestick Kits because the chocolate pieces contain milk, which is not listed as an ingredient on the packaging. This could be dangerous for people with milk allergies. The kits were sold in clear, plastic tubes with a “use by” date of Feb. 14, 2009. For details, call (877) 305-3382.

Pulmuone Wildwood Inc. is recalling 1,000 cases of Leek and Oriental noodle fried dumplings because they might contain undeclared egg, which could cause a severe or life-threatening reaction in people who have egg allergies. The dumplings, with the UPC code 801114-306338, were distributed in California, Illinois, Texas and Georgia through retail stores. For details, call (714) 578-1487.

Associated Press FDA says generic antidepressant safe

Federal regulators said Wednesday that Teva Pharmaceutical’s generic version of the popular antidepressant Wellbutrin is safe and effective, despite a spate of consumer complaints.

The Food and Drug Administration agreed to review Teva’s version of Wellbutrin after dozens of patients reported their depression came back after they switched from the original drug, made by GlaxoSmithKline PLC. Some patients said they also experienced headaches, anxiety and other side effects.

In a report posted online, the FDA concluded the reoccurrence of depression and other side effects are typical of patients taking antidepressants. Regulators pointed out that a study of another antidepressant showed 20 percent of patients relapsed into depression at least once after six months on the drug.

FDA detected slight differences between Teva’s formulation and the original, but said they were small enough to be inconsequential.

Associated Press

(01-10) 10:45 PST WASHINGTON, (AP) —

The United States has lodged a formal diplomatic protest with Iran over a weekend incident in which Iranian speedboats harassed U.S. warships in the Persian Gulf, the State Department said Thursday.

The protest, which repeats public U.S. complaints about the “provocative” action, was sent to the Iranian Foreign Ministry through the Swiss Embassy in Tehran, which represents U.S. interests in Iran, deputy spokesman Tom Casey told reporters. He could not say if the Iranians had actually received and acknowledged receipt of the protest

“We have … prepared and given to the Swiss a diplomatic note formally protesting this incident,” he said. “It reiterates the points that we have made publicly in the last few days.”

“We certainly don’t want to see the Iranians taking any kind of provocative actions or provocative steps against our ships or against any ships that are transiting what is a primary international waterway,” Casey said.

He dismissed Iranian claims that there was nothing unusual about Sunday’s incident in the Strait of Hormuz as well as a videotape aired by Iranian television on Thursday that appeared to be an attempt to show that there was not a confrontation between the vessels.

“We all understand what happened in this incident,” Casey said.

The Pentagon maintains that Iranian naval speedboats swarmed around U.S. warships in a threatening manner and released its own video of the incident in which a man in accented English says, “I am coming to you. … You will explode after … minutes.”

President Bush has warned Iran not to repeat such actions, which he said would draw “serious consequences.”

Iran denies its boats threatened the U.S. vessels, and accused Washington of fabricating its video. The Pentagon has dismissed that claim and warned that its ships would respond with force if threatened.

The grainy 5-minute, 20-second Iranian video shows a man speaking into a handheld radio, with three U.S. ships floating in the distance. It appeared to be shot from a small boat bobbing at least 100 yards from the American warships. But the footage does not show any Iranian boats approaching the U.S. vessels or any provocation.

The entire incident lasted about 20 minutes, according to the U.S. Navy, and a Pentagon official said that while the Iranian video appeared to have been taken around the time of the confrontation, controversial parts had been edited out.

The clip aired on Iran’s state-run English-language channel Press TV, whose signal is often blocked inside Iran. It also aired on the state-run Al-Alam Arabic channel, with an announcer saying the video showed “a routine and regular measure.”

The incident, which ended without any shots fired, has heightened U.S.-Iranian tension as Bush visits the region. Bush was in the West Bank on Thursday, and heads next to Arab Gulf nations where he is expected to discuss strategy on Iran.