InfoAnda - US, European stocks rally as US vote stirs relief hopes

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Dell cutting jobs in North Carolina, Texas | 12 March 2009
BAE clinches $779m order for Hawk trainer jets | 28 July 2010
Raina, Dhoni help India enter tri-series final | 12 September 2009

Saudi cleric sues to block women teaching young boys: report | 2 June 2010

">Forum Views () ">Forum Replies ()

Read more with google mobile : US, European stocks rally as US vote stirs relief hopes

Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Top Stories Full Coverage Most Popular Photos Search Search: US, European stocks rally as US vote stirs relief hopes AFP - 2 hours 33 minutes ago NEW YORK (AFP) - - Wall Street and European stocks rallied as Americans voted Tuesday, with investors hoping that a new president will bring relief from the global financial crisis. The Dow Jones Industrial Average surged 305.45 points (3.28 percent) to 9,625.28 and the tech-heavy Nasdaq added 53.79 points (3.12 percent) to 1,780.12, the first time it has closed higher for six straight sessions all year. The Standard & Poor's 500 index gained a whopping 39.45 points (4.08 percent) to finish at 1,005.75, breaking above 1,000 for the first time since October 13. Market action came on positive results in many global bourses amid hope the next US president will provide new impetus to action to unblock frozen credit markets and kick-start faltering economies. In the historic US election, front-runner Democrat Barack Obama is seeking to become the first black president and his Republican rival John McCain hopes for an 11th-hour comeback that would defy public opinion polls. More than 100 million people were expected to trek to the polls, while 30 million advance ballots have been cast in the state-by-state electoral battle. The rally "is being driven primarily by the understanding that today is Election Day," said Patrick O'Hare at Briefing.com. "It's not a bid, though, rooted in the expectation that one candidate will prevail over the other. Rather, it's a bid rooted in the understanding that there will finally be clarity on the matter." Analysts at Charles Schwab & Co. also noted "a general sense of relief" that the presidential and Congressional elections would help remove some of the uncertainty hanging over Wall Street amid the financial turmoil. "Talk that the Treasury's rescue plan may be broadened, more overseas monetary actions and growing signs that October's swoon in stocks was overdone are also supporting sentiment and fueling the advance," they wrote in a client note. Bob Dickey at RBC Wealth Management said the market seems to have found some footing after the brutal declines in recent months. "It really does look like the market is turning the corner for the better, and the election period could do even more to bolster the bullish case, no matter who wins," he said. "The market reaction will depend on the decisiveness of the victories for the presidency, and equally as important, the House (of Representatives) and Senate," said David Keeble, Global Head of Interest Rate Strategy at Calyon. "We think a decisive win in the Senate for the Democrats ... as well as a win for Senator Obama ... would boost risk appetite," he said. "This outcome would potentially pave the way for another sizeable fiscal package which would be pushed through rather quickly relative to the (700 billion dollar TARP) bailout plan, for instance." At the close in Europe, London's FTSE 100 index of leading shares was up 4.42 percent at 4,639.50, the CAC 40 in Paris advanced 4.62 percent to 3,691.09 and in Frankfurt the DAX gained 5.0 percent to 5,278.04. Trading earlier Tuesday in Asia was mixed. Tokyo jumped more than six percent, boosted by a weaker yen and following the market closure Monday for a public holiday. The gains in Europe came despite negative earnings news from British retailer Marks and Spencer, banking giant Royal Bank of Scotland, German luxury car maker BMW, Swiss temp agency Adecco and Swiss Re, the world's biggest reinsurer. Dealers said investors were betting that the winner of Tuesday's US vote would take additional steps to tackle a looming recession in the United States, the world's largest economy. "All eyes will be on the US presidential election today, even though a win by Obama is widely expected and probably well discounted by financial markets," said Barclays Capital analyst Rodrigo Guimaraes. "We think an Obama victory ... is likely to lead to more expansive fiscal policy and a more protectionist-minded White House. "But in the short-term, an Obama victory, combined with a strong majority in the Senate ... will enable Washington to respond more proactively on the management of the financial crisis," Guimaraes said. Central bankers meanwhile continued their efforts to restore stability to world markets and stop the global economy slipping into a long downturn. The Reserve Bank of Australia slashed its key lending rate by a bigger-than-expected 75 basis points. The European Central Bank and the Bank of England were expected to lower rates by a half point on Thursday. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Most Popular – Top Stories Viewed Americans flock to vote in historic elections Foods to prevent disease? DNA tests confirm death of millionaire flyer Steve Fossett Obama's grandmother, family 'rock', dies on election eve Australia anxious as Indonesia prepares to execute Bali bombers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

Other News on Tuesday, 4 November 2008
15 dead in Baghdad blasts, violence rising
Israel launches first airstrike on Gaza since June
Israeli strikes on Gaza kill six gunmen: Hamas | International |
Court orders film copyright guards in China-made DVD players
Obama, McCain await judgment of history
Iran's parliament ousts Ahmadinejad ally
Boeing delays first 787 Dreamliner flight
Talk or I restart war, Congo rebel tells government | International |
US troops on front lines of war track election
US, European stocks rally as US vote stirs relief hopes
Blasts rock Baghdad, at least 14 killed | International |
Sinking profits heighten recession fears
Iraqi views mixed on US presidential contest
Mega mall opens in Dubai despite global economic gloom
North Korea campaigns to show healthy Kim Jong-il | International |
Iran's interior minister sacked over fake degree
World looks forward to new era with US
U.S. says Afghan officials supported deadly attack | International |
String of Baghdad bombings kill 14
Slammed by financial crisis, BMW drops full-year outlook
Colombian army chief resigns after killings probe | International |
Sunset turns into business for Japanese city
Iran parliament sacks interior minister over fake degree
Twenty killed in German bus blaze | International |
Suicide bomber kills soldier, injures seven in Pakistan
Unemployment fears stalk once-roaring China | International |
Love, not war, and mystery in Pyongyang | International |
S.Korea says banks' foreign debt rollover improves
Obama, McCain await judgment of history
US, European stocks rally as US vote stirs relief hopes
Colombian rebels still keen for talks on hostages | International |
Iraq receives 'positive' signs from US on security deal: MP
APEC finance ministers to discuss global crisis
Yahoo-Google deal may flounder, analyst says | Technology |
US troops in Iraq become citizens on election day
Sinking profits heighten recession fears
Dell asks workers to take unpaid vacation | Technology |
NZ stocks open stronger after Wall St gains
FCC clears Google-backed plan on airwaves use | Technology |
Mitsubishi UFJ buys rest of UnionBanCal for 3.5 bln dlrs
Q+A-Pakistan weighs options as payments crisis looms
FCC OKs Verizon/Alltel and Sprint/ Clearwire deals | Technology |
SKorea's foreign reserves fall amid credit crunch
Apple hires IBM exec to head iPods; IBM objects | Technology |
Reporter's suit challenges China's media controls
Fujitsu buying Siemens' stake in 50-50 venture
Media groups turn on Web for election coverage | Technology |
Nokia strengthens emerging market push, to cut jobs | Technology |
High School Musical 3 gets singalong version | Entertainment |
Soul man Nathaniel Mayer dies after stroke | Entertainment |
Pooh sketch makes $50,000 | Entertainment |
Top court considers television dirty words case | Entertainment |
24 finally back for Season 7 in January | Entertainment |
Media groups turn on Web for election coverage | Entertainment |
Five Palestinians killed in Israeli raid on Gaza: medical sources
Barrage of rockets after six killed in Gaza: military
Mexican interior minister dies in plane crash | International |
Obama surfs the Web to the White House
Barrage of rockets after six killed in Gaza: military
FCC approves opening up TV spectrum for wireless use
Historic win sparks joy in Obama's Kenyan village | International |
Mexico interior minister, eight others die in plane crash
Iran warns U.S. not to violate Iranian airspace | International |
IPod's "father" leaving Apple
World tunes in to see Obama win historic US election
China reveals fresh sentences for Tibet unrest | International |
Afghanistan welcomes Obama win, wants more focus | International |
ECB to cut rates sharply on Thursday, analysts forecast
US troops on front lines of war track election
Obama wins US election, to become first black president
Mexico interior minister, officials die in capital plane crash
Cigarette sets German bus ablaze, 20 dead
South Korea warns next U.S. president on trade deal | International |
Japan ex-defense head sentenced to jail for bribes | International |
Obama victory sparks cheers worldwide
China detains suspect in melamine eggs case | International |
Surfing violent websites linked to violent behavior | Technology |
World hails Obama's 'brilliant' victory
Sri Lanka to unveil biggest ever war budget
Trump eyeing investment in Philippine freeport
Philippine inflation eases to 11.2 percent in October
Seoul shares pare gains after Obama victory
China car industry may be shifting into slow lane
Taiwan businesses, workers assess impact of China deals
NZ dollar firmer on risk appetite, eyes jobs data
Dollar gains as traders watch US vote
Stocks, dollar rise as Obama takes White House
TV shows may see post-election ratings growth | Entertainment |
Korea Exchange halts programme buying in KOSPI
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01