Salesforce.com reported 1Q profit of 4 cents vs. breakeven a year ago on 84% jump in revenue to $64 million. For the full-year the company raised range from 11-13 cents to 11-14 cents on revenue range of $297 million -$302 million.

Claire's Stores, teen age accessories retailer, reported 1Q profit of 30 cents vs. 27 cents a year ago on 7.5% sales growth and same-store-sales up by 5%.

New York & Co. reported 1Q profit of 38 cents vs. 25 cents a year ago on 7% jump in total sales and 3.9% rise in same-store-sales.

The Bank of England's monetary policy committee believes that UK Chancellor has less than 20% chance of hitting its economic projections for UK.

According to UK newspapers average house in UK cost eight times average salary. Average house in South-West England costs app. $350,000 with average salary at $40,000 per household. During Blair government, housing prices have jumped 125% and salaries have jumped 18%.

In overnight trading, Asian markets closed higher on the rally in the U.S. Japan, South Korea and Australia jump more than 2%. Taiwan up 1.6%, Singapore and Thailand up 0.63%, India and HK closed up 0.5%.

Tech stocks rallied in Japan with Sony leading the sector and up by 4.6% followed by Tokyo Electron, Cannon, Matsushita Electric.

Altria, parent of Philip Morris, reported acquisition of third largest cigarette Indonesian company with the total cost as high as $5.2 billion.

HK Monetary Authority widened its currency band by 5 cents to HK$7.75-$7.85 per U.S. dollar. The authority hopes this widening of HK dollar peg after 22 years will discourage speculation in HK dollar in the hopes of rumored revaluation in Chinese Yuan.

Indian PC market registered 29% unit growth in shipment totaling to 3.6 million PCs led by 87% jump in notebook computers.