At 8:35 AM EDT:
S&P 500: +4.60; 1,406.10
NASDAQ 100: +4.75; 1,806.00
Dow: +42.00; 12,330.00
NIKKEI 225: -0.49%; 16,163.87 (-79.60)
HANG SENG: +0.32%; 19,154.07 (+61.07)
S&P/ASX 200: -0.69%; 5,392.60 (-37.30)
BSE SENSEX 30: +0.27%; 13,505.89 (+36.52)
FTSE 100: +0.03%; 6,231.70 (+1.90)
CAC 40: +0.03%; 5,512.96 (+1.43)
XETRA-DAX: -0.15%; 6,421.37 (-9.52)
Commodity Futures (Reuters/Jefferies CRB)
Oil: +0.75%; $59.20 (+$0.44)
Gold: +0.58%; $627.40 (+$3.60)
Natural Gas: +0.85%; $8.19 (+$0.07)
Silver: +0.50%; $13.01 (+$0.065)
Asian Headlines (via Bloomberg.com)
• Bank of Japan Governor Fukui Doesn't Rule Out Any Time for Rate Increase The Bank of Japan hasn't ruled out any time for raising the lowest interest rates among major economies, Governor Toshihiko Fukui said.
• Citigroup Signs $3.1 Billion Agreement to Buy Guangdong Development Bank Citigroup Inc. C signed a $3.1 billion agreement to take control of state-owned Guangdong Development Bank, becoming the first overseas financial-services company to manage a Chinese bank.
• Lone Star Co-Founder Ellis Short Faces Extradition Request by South Korea Lone Star Funds co-founder Ellis Short faces an extradition request by South Korean prosecutors after a court sought his detention over the buyout firm's management of Korea Exchange Bank.
• Asian Stocks Drop, Led by Japan's Mitsubishi UFJ on Rates; China Advances Asian stocks fell, led by Japanese banks, after the Bank of Japan left its key interest rate unchanged, delaying an increase in lending rates. Shinsei Bank Ltd. dropped after cutting its profit forecast yesterday.
• Sterlite Industries to Raise $2.8 Billion to Pay for Orissa Power Plant Sterlite Industries (India) Ltd., a unit of billionaire Anil Agarwal's Vedanta Resources Plc., plans to raise 125 billion rupees ($2.8 billion) from overseas to pay for a new power plant. Sterlite's shares rose.
European Headlines (via Bloomberg.com)
• U.K. Retail Sales Jump by Most in a Year on Price Cuts, Internet Commerce U.K. retail sales rose more than forecast in October as discounts and cheaper gasoline persuaded consumers to buy more in department stores and over the Internet.
• Infineon Posts Seventh Straight Loss After Insolvency of Key Client Benq Infineon Technologies AG (IFX), Europe's second-biggest maker of semiconductors, unexpectedly reported a seventh straight loss because of costs to separate the memory- chip unit and the collapse of a major customer.
• Vivendi Profit Rises 21 Percent on Gains in Canal Plus Pay-TV, Music Units Vivendi SA, owner of Universal Music Group and French mobile-phone company SFR, said third-quarter operating profit rose 21 percent as earnings rose in the Canal Plus pay-television and music units.
• European Inflation Slows to 1.6 Percent, Slowest Rate Since February 2004 Inflation in the dozen euro nations slowed in October as the first annual drop in energy prices since 2004 kept the rate below the European Central Bank's limit for a second month.
• BNP Paribas Profit Rises 25 Percent on Banca Nazionale, Fund Management BNP Paribas SA, France's largest bank by market value, increased third-quarter profit 25 percent after buying Italy's Banca Nazionale del Lavoro SpA and attracting investors to its funds.
U.S. Headlines (via Bloomberg.com)
• U.S. Consumer Prices Fell 0.5% Last Month; Core Rate Rose 0.1% Consumer prices in the U.S. fell in October for the second consecutive month, reflecting cheaper energy costs and adding to evidence that inflation pressures are easing.
• Clear Channel Agrees to Be Bought by Lee, Bain for $19 Billion, People Say Clear Channel Communications Inc. (NYSE:CCU), the largest U.S. radio broadcaster, agreed to be bought by a group of private equity firms in a leveraged buyout that values the company at about $19 billion, according to people briefed on the decision.
• Dell Shares Fall on SEC Scrutiny, Delayed Results as Hewlett-Packard Gains Shares of Dell Inc. (NYSE:D) fell after the world's second-largest personal computer maker delayed reporting results and said federal regulators stepped up an investigation of its accounting.
• Sears Holdings Profit Triples on Investment Gains; Sales Fall 2.5 Percent Sears Holdings Corp. (NASDAQ:SHLD), the largest U.S. department-store company, said third-quarter profit more than tripled after the company posted $101 million in investment gains.
• Hertz IPO Raises Less Than Planned; Investors Balk at Buyout Firms' Payout Hertz Global Holdings Inc.'s (NYSE:HTZ) initial share sale raised less than the company planned as some investors were unwilling to reward owners who more than doubled their investment.