5:30PM New York, 11:30PM Frankfurt, 7:30AM Sydney

U.S. stocks advanced led by a sharp rise in techs and financial stocks. Microsoft earnings increase of 23% lifted tech stocks and Dow Jones Industrial Average. Countrywide Financial surged 32% after reporting its first quarterly loss in 25 years and a forecast of a profit in the fourth quarter.

Mexico raised interest rates by 0.25% to 7.5% to fight the rising inflation. Colombia left the rates unchanged at 9.25% and Bank of Tokyo meets next week to decide rates on Wednesday next week. Venezuelan Bolivar dropped to a new low of 6,300 to a dollar in parallel market but the official exchange rate remained at 2,150 to a dollar.

Brazil Bovespa Stock Exchange soared 52% on its first day of trading as a public company after raising $3.7 billion.

Dollar fell to a record low against euro to $1.43 and oil closed at a new high inching closer to $92. Gold and silver reached 22-year highs.

Pearl Group raised its bid for Resolution, insurance group to 4.93 billion pounds or $10.2 billion. PSA Peugeot Citroen SA increased 6% after reporting higher sales, Renault added 3% after sales at Nissan jumped 13%, and Volkswagen jumped 4% on better than expected earnings. In Sweden TeliaSonera AB rose 6% after earnings gained 7%.

Global Markets Indexes

Dow Jones Industrial Average closed up 134.78 or 0.99% to a close of 13,806.70, S&P 500 edged lower 1.38% or 20.88 to 1,535.28, and Nasdaq Composite Index traded up 53.33 or 1.94% to a close of 2,804.19. In Toronto TSX Composite rose 171.49 or 1.21% to close at 14,296.43.

Of the 30 stocks in Dow Jones Industrial Average 28 closed higher, 2 closed lower, and none were unchanged.

Microsoft led the gainers with a rise of 9.5% followed by increases in Citigroup of 3.4%, J P Morgan Chase of 2.76%, and Alcoa of 2.5%. The only two decliners United Technology lost 0.4% and Disney fell 0.25%.

Of the stocks in S&P 500, 382 closed higher, 111 fell, and 7 were unchanged.

Forty one stocks fell more than 3% and nineteen stocks rose more than 3%.

Countrywide Financial led the gainers with a surge of 32% followed by increases in MEMC Electric of 19.8%, in Tesoro of 12.7%, and in Convergys of 11%, and Genworth and Microsoft of 9.5%. Waste Management led the decliners with a loss of 7.8% followed by declines in Coventry Health of 7.7%, and in Perkin Elmer of 5%. After earnings release Baker Hughes dropped 4%.

In London FTSE 100 Index closed up 85.00 or 1.29% to 6,661.30, in Paris CAC 40 index rose 34.57 or 0.60% to close at 5,794.87, and in Frankfurt DAX index increased 16.73 or 0.21% to close at 7,949.17. In Zurich trading SMI gained 45.47 or 0.51% to close at 8,962.92. Spain led the gainers in the region with a rise of 1.42%.

In Tokyo Nikkei 225 index surged 221.46 or 1.36% to close at 16,505.63, in Hong Kong Hang Seng index closed up 550.73 or 1.84% to 30,405.22, in Australia ASX 200 closed up 76.30 or 1.15% to close 6,700.60.

Sensex in India edged higher 472.28 2.52% to 19,243.17. In South Korea Kospi Index increased 51.31 or 2.6% to close at 2,028.06 and Indonesia closed up 27.77 or 1.07% to 2,624.43. Philippines added 17.10 or 0.45% to 3,784.88, Singapore gained 64.41 or 1.74% to 3,771.55, and Malaysia increased 20.08 or 1.46% to 1,398.35. Thailand added 0.13%.

In Latin Markets Brazil led the gainers with a rise of 3.10% followed by increases in Argentina of 1.95%, in Colombia of 1.81%, in Peru 1.66%, in Venezuela 1.06%, and in Mexico 0.8%. Chile edged a fraction.

Bond Yields edged higher on 10-year U.S. bonds to 4.40% and 30-year bonds gained to close at 4.70%.

Commodities, Metals, and Currencies

Crude oil jumped $1.40 to close at $91.86 per barrel for a front month contract, up 45.5% for the year, natural gas increased 3 cents to $7.22 per mBtu, and gasoline futures increased 3.82 cents to close at 227.40 cents per gallon.

Gold edged higher $16.50 in New York trading to close at $787.50 per ounce, silver closed up 37 cents to $14.28 per ounce, and copper for front month delivery lost 5 cents to $353.75 per pound.