[R]4:00PM New York, 10:00PM Frankfurt, 8:00AM Sydney[/R]

[R]Global Markets Indexes[/R]

Dow Jones Industrial Average edged higher by 59.99 or 0.45% to a close of 13,371.72, S&P 500 increased 11.42 or 0.78% to 1,481.14, and Nasdaq Composite Index declined 7.17 or 0.27% to a close of 2,660.96. In Toronto TSX Composite increased 25.23 or 0.18% to close at 13,689.12.

Of the 30 stocks in Dow Jones Industrial Average, 20 closed higher, 10 closed lower, and none was unchanged.

IBM led the decliners in the index with a fall of 2.2% followed by losses in Coca Cola of 1.1%, in Intel of 1%, in Johnson & Johnson of 0.96%, and in Merck of 0.93%. JP Morgan led the gainers in the index with a rise of 4.5% followed by increases in American Express of 3.7%, in General Motors of 3.65%, in Honeywell of 3.2%, and in Citigroup of 3.2%.

Of the stocks in S&P 500, 350 closed higher, 146 fell, and 4 were unchanged. Nine stocks fell more than 3% and forty eight increased 3% or more.

Freddie Mac led the gainers in the index for the second day in a row with a rise of 19% followed by increases in MBIA of 18.8%, in Fannie Mae of 18.6%, in Countrywide Financial of 16.34%, in Ambac Financial of 16.32%, and DR Horton of 14.33%.

In London FTSE 100 Index closed up 83.40 or 1.31% to 6,432.50, in Paris CAC 40 Index increased 72.46 or 1.29% to close at 5,670.57, and in Frankfurt DAX index advanced 105.33 or 1.36% to close at 7,870.52. In Zurich trading SMI rebounded 93.89 or 1.07% to close at 8,828.36.

In Tokyo Nikkei 225 Index lost 166.93 or 1.08% to close at 15,680.67, in Hong Kong Hang Seng index closed up 161.07 or 0.57% to 28,643.61, in Australia ASX 200 closed up 88.60 or 1.37% to close 6,533.10.

In South Korea Kospi Index decreased 28.44 or 1.51% to close at 1,906.00, Thailand closed up 1.64 or 0.19% to 846.4, and Indonesia edged lower 11.48 or 0.43% to 2,688.33. India soared 359.93 or 1.89% to 19,363.19.

In Latin Markets Peru led the gainers with a rise of 1.75% followed by increases in Venezuela of 1.59%, in Brazil of 1.4%, in Mexico of 1.3%, and in Colombia of 0.2%. Argentina declined 1.3%.

Bond Yields edged higher on 10-year U.S. bonds to 4.03% and 30-year bonds increased to 4.41%.

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

Crude oil declined $2.30 to close at $88.71 per barrel for a front month contract, up 39.00% for the year, natural gas decreased 15 cents to $7.30 per mBtu, and gasoline futures decreased 8.90 cents to close at 228.39 cents per gallon.

Gold edged lower $13.20 in New York trading to close at $789.10 per ounce, silver closed down 28 cents to $14.165 per ounce, and copper for front month delivery increased 9.05 cents to 318.45 cents per pound and in London trading closed down $165.00 to $6,847.50.

Dollar edged higher against euro to $1.4633 and higher to 112.2300 yen.


[R]10:30AM New York – U.S. stocks rise sharply in the morning trading on the Fed chairman comments.[/R]

U.S. markets opened sharply higher after the comments from the Fed chairman. Dow Jones added 113.45 to 13,425, Nasdaq jumped 11.7 to 2,679, and S&P 500 increased 13.69 to 1,483.

After the close of markets yesterday the Fed chairman Bernanke comments suggested that risk to economic slow down is higher than the rise of inflation. The comments were widely perceived by investors as a signal to a rate cut at the next Fed meeting on Dec 11th.

The Commerce Department reported construction spending declined 0.8% and revised September spending to an increase of 0.2%. Separately the personal income in the month increased at a seasonally adjusted rate of 0.2% from September and personal spending increased 0.2% from the previous month. The price index for personal consumption expenditure increased 0.3% and core index excluding food and energy rose 0.2%.