4:00PM New York, 10:00PM Frankfurt, 8:00AM Sydney

U.S. averages opened weak and traded lower by mid-day. In the late afternoon tech stocks lifted the averages as Nasdaq jumped 1% at close. Intel, Nortel, and Cisco led the tech gainers on higher than average volume. Resource stocks surged in the U.S. and Europe after oil closed at a record high and gold reached 27-year high.

European markets closed higher on resource stocks. Asian markets rebounded led by a rise in Hong Kong, Korea, and Thailand. Alibaba.com soared on its first day of trading in Hong Kong.

MasterCard surged 7% or $13.47 to $199.40 after Deutsche Bank raised its price target to $250 and revised its earnings revenue estimates. Google added $16.41 to close at $741.79 after Sanford Bernstein raised its price target to $850 from $720.

Blue Nile (NILE) fell in the after hours trading to $65 after it reported revenue rise of $67.4 million or 26.5% increase and earnings per share of 18 cents, an increase of 63.6%. The company expects to earn between 40 cents and 45 cents in the fourth quarter and generate revenue between $316 million and $322 million in 2007 and earn between $1.00 and $1.05 per share.


Global Markets Indexes

Dow Jones Industrial Average closed up 117.54 or 0.87% to a close of 13,660.94, S&P 500 edged higher 1.20% or 18.10 to 1,520.27, and Nasdaq Composite Index traded up 30.00 or 1.07% to a close of 2,825.18. In Toronto TSX Composite gained 97.19 or 0.68% to close at 14,370.56.

Of the 30 stocks in Dow Jones Industrial Average, 19 closed higher, 11 closed lower, and none were unchanged.

Citigroup led the decliners in the index for the second day in a row with a loss of 3.2% followed by losses in Verizon of 0.84%, in Microsoft of 0.8%, and AT&T of 0.77%. AIG led the gainers with a rise of 3% followed by increases in Exxon Mobil of 2.98%, in JP Morgan of 2.95%, and Intel of 2.4%.

Of the stocks in S&P 500, 291 closed higher, 206 fell, and 3 were unchanged. Nine stocks fell more than 3% and fifty four stocks rose more than 3%.

Tenet Healthcare led the gainers in the index with a rise of 19% followed by increases in Ambac of 17%, in MBIA of 9%, Archer Daniels Midland and MGIC of 7.4%, in Janus of 7.1%, and in Fannie Mae, Hess, and Expeditors International of 6.5%. Cognizant Technology led the decliners with a loss of 19.4% followed losses in Sun Microsystems of 9.8%, and Symantec of 5.1%. Yahoo dropped 4.9%. Morgan Stanley, Whole Foods, and Dillards dropped 3.5%.

In London FTSE 100 Index closed up 13.50 or 0.21% to 6,474.90, in Paris CAC 40 Index increased 24.80 or 0.44% to close at 5,709.42, and in Frankfurt DAX index added 19.64 or 0.25% to close at 7,827.19. In Zurich trading SMI increased 62.54 or 0.72% to close at 8,770.29.

In Tokyo Nikkei 225 Index retreated 19.29 or 0.12% to close at 16,249.63, in Hong Kong Hang Seng index closed up 495.81 or 1.71% to 29,438.13, in Australia ASX 200 closed up 45.70 or 0.69% to close 6,628.00.

Sensex in India fell 190.11 or 0.97% to 19,400.67. In South Korea Kospi Index increased 38.48 or 1.91% to close at 2,054.24, Thailand closed up 13.45 or 1.54% to 886.31, and Indonesia closed up 29.42 or 1.11% to 2,681.90. Philippines lost 1.18 or 0.03% to 3,773.63, Singapore added 12.92 or 0.35% to 3,683.10, and Malaysia increased 4.38 or 0.32% to 1,389.11.

In Latin Markets Brazil led the gainers with a rise of 2.45% followed by increases in Colombia of 1.3%, and in Mexico of 0.90%. Argentina led the decliners with a loss of 1.7%, in Argentina of 1.66% followed by losses in Peru of 0.5%, and Chile of 0.18%.

Bond Yields increased on 10-year U.S. bonds to 4.36% and 30-year bonds gained to 4.65%.

Commodities, Metals, and Currencies

Crude oil added $2.57 to close at $96.55 per barrel for a front month contract, up 46.5% for the year, natural gas decreased 17 cents to $7.83 per mBtu, and gasoline futures increased 5.74 cents to close at 243.85 cents per gallon.

Gold edged higher $12.60 in New York trading to close at $823.40 per ounce, silver closed up 59 cents to $15.38 per ounce, and copper for front month delivery added 3.95 cents to $334.15 per pound and in London trading closed down $32 to $7,410.00

Dollar edged lower against euro to $1.4554 and higher to 114.49 yen.