[R]4:00PM New York – U.S. market averages gained after financial and brokerages stocks rallied on investment in Merrill Lynch and retail stocks edged higher on optimistic outlook for holiday sales.[/R]

Dow Jones Industrial Average closed up 98.68 or 0.73% to a close of 13,549.33, S&P 500 edged higher 11.99 or 0.81% to 1,496.45, and Nasdaq Composite Index traded up 21.51 or 0.80% to a close of 2,713.50. In Toronto TSX Composite gained 98.75 or 0.73% to close at 13,694.84.

Of the 30 stocks in Dow Jones Industrial Average, 25 closed higher, 5 closed lower, and none was unchanged.

AIG led the gainers in the index for the second day in a row with a rise of 2.83% followed by increases in American Express of 2.5%, in Citigroup of 2.4%, in Alcoa of 1.8%, and in JP Morgan Chase of 1.6%. General Motors led the decliners in the index with a loss of 0.4% followed by losses in du Pont of 026%, in Johnson & Johnson of 0.24%, in Proctor & Gamble of 0.19%, and in Caterpillar of 0.04%.

Of the stocks in S&P 500, 392 closed higher, 104 fell, and 4 were unchanged.

Three stocks fell more than 3% and thirty seven stocks rose more than 3%.

SLM Corp led the gainers with a rise of 11% followed by increases in Office Depot of 6.65%, in Freddie Mac of 6.4%, in Manitowoc of 6.14%, in General Growth Properties of 6%, and in Apartment Invest of 5.3%. First Horizon led the decliners in the index with a loss of 6.1% followed by losses in Boston Scientific of 3%, in Wyeth of 3%, in Merrill Lynch of 2.95%, and in CME Group of 2.4%.

In London FTSE 100 Index up by 45.20 or 0.70% to 6,479.30, in Paris CAC 40 Index increased 11.51 or 0.21% to close at 5,614.28, Market in Switzerland, Italy, Spain, Sweden, and Germany were closed today.

In Latin America Argentina, Brazil, and Peru were closed. Mexico led the gainers with a rise of 0.73% followed by increases in Colombia of 0.71% and Venezuela of 0.4%. Chile lost 0.2%.

Markets in Japan, Thailand, and Indonesia were closed.

In Hong Kong Hang Seng index closed up 501.88 or 1.82% to 28,128.80 and in Australia ASX 200 increased by 78.60 or 1.25% to close 6,388.00.

In South Korea Kospi Index increased 41.15 or 2.35% to close at 1,919.47. In India Sensex Index surged 691.55 or 3.61% to close 19,854.12.

Bond Yields increased on 10-year U.S. bonds to 4.21% and 30-year bonds to 4.61%.

[R]Commodities, Metals, and Currencies[/R]

Crude oil increased $0.70 to close at $94.01 per barrel, natural gas down by 19 cents to $7.00 per mBtu, and gasoline futures inched higher by 0.35 cents to close at 238.30 cents per gallon.

Gold added by $1.10 in New York trading to close at $816.50 per ounce, silver closed up by 17 cents to $14.66 per ounce, and copper for front month delivery up 5.60 cents to 315.35 cents per pound. Trading in London metals market was closed today.

Dollar edged lower against euro to $1.4399 and higher to 114.395 yen.

[R]10:30AM New York – Merrill Lynch rises after selling its commercial finance business and receiving investment from Singapore and Davis Fund.[/R]

Dow Jones Industrial Average jumped 91 to 13,452, Nasdaq increased 15.87 to 2,707, and S&P 500 added 10.71 to 1,495.18.

Merrill Lynch (MER: chart) after a recent string of losses in sub-prime loans is forced to sell assets and raise capital from new investors. Merrill jumped 4% to $57.80 today on the news of fresh investment from Singapore government controlled fund and from a mutual fund company Davis Selected Advisors based in Tucson, Arizona.