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U.S. stock futures turned higher Friday after Citigroup's quarterly loss turned out to be not quite as bad as Wall Street expected.

U.S. stock futures turned higher Friday after Citigroup's quarterly loss turned out to be not quite as bad as Wall Street expected.

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Read full story for latest details.

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A few months back, Fortune asked me to move from New York to Los Angeles, and I readily said yes. From the canyons of Sixth Avenue in New York, the Hollywood studios seemed like just one tentacle of the information conglomerates, and one that was increasingly less central to their futures. And yet, whenever I came to LA, I was impressed and slightly bemused by the sense that the denizens of "the industry" there still believed that the media universe orbited around their stars - their mostly distant corporate overlords be damned. In one important respect they are right: Regardless of the relative profitability of film and TV programming, it remains the principal engine that drives the dream factory of popular culture.

Fuel prices at the pump fell overnight, a nationwide survey of gas station credit card swipes showed Thursday.

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