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Market Update : 
MasterCard up 15% on Strong Profit
Author: Elena Todorova
123jump.com
Last Update: 10:08 AM EST November 01 2006

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Better-than-expected earnings from MasterCard and an upbeat forecast for private-sector employment in October pushed stock higher at opening. MasterCard reported 82% profit jump in Q3 to $1.42 a share from 79 cents last year, due to an improved revenue and a higher number of purchases worldwide. Deal talks about a combination of pharmacy benefits manager Caremark Rx and drugstore chain CVS Corp. also contributed to the upside move.

 
Crude oil for December delivery fell 47 cents, or 0.8%, to $58.26 a barrel in after-hours electronic trading on the New York Mercantile Exchange. Brent crude oil for December declined 41 cents to $58.62 a barrel on the ICE Futures exchange in London.

Gold prices rose for a seventh consecutive trading session in London amid concern about a slowdown in the U.S. economy. Gold for immediate delivery in London rose $5.40, or 0.9%, to $612 an ounce.

Currencies

The U.S. dollar was little changed before a U.S. report on manufacturing growth today. The greenback traded at 117.04 yen. in London from 116.98 yen in New York late yesterday. It was at $1.2755 per euro from $1.2762 on Tuesday. The British pound traded at $1.9095 against the dollar from $1.9081 yesterday.
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