At 8:35 AM EDT:
S&P 500: +2.00; 1,424.20
NASDAQ 100: +0.75; 1,808.75
Dow: +19.00; 12,415.00
NIKKEI 225: +0.67%; 16,527.99 (+110.17)
HANG SENG: +0.99%; 18,924.66 (+184.67)
S&P/ASX 200: +0.81%; 5,469.70 (+43.90)
BSE SENSEX 30: -2.90%; 13,399.43 (-400.06)
FTSE 100: -0.00; 6,152.30 (-0.10)
CAC 40: +0.48; 5,410.02 (+25.86)
XETRA-DAX: +0.45; 6,456.44 (+29.03)
Commodity Futures (Reuters/Jefferies CRB)
Oil: -0.66%; $61.62 (-$0.41)
Gold: -0.35%; $628.80 (-$2.20)
Natural Gas: -3.45%; $7.30 (-$0.26)
Silver: -0.36%; $13.845 (-$0.05)
Asian Headlines (via Bloomberg.com)
• Asian Shares Rise as Yen, Won Drop; Toyota, Hynix Gain, Indian Stocks Fall Asian stocks rose, led by Toyota Motor Corp. (NYSE:TM) and Hynix Semiconductor Inc., as the yen and the won weakened against the dollar, boosting the value of exports.
• China Inflation Rate Has Biggest Jump in 20 Months on Surging Food Prices Inflation in China, the world's fastest-growing major economy, accelerated more than expected in November as food costs increased at the quickest pace in almost two years.
• Marubeni, Tokyo Electric Win $3.4 Billion Bid for Mirant Philippine Plants Marubeni Corp. (OTCPK:MARUY), Japan's fifth-largest trading company, and Tokyo Electric Power Co. won a bid to buy Mirant Corp.'s (MIR) Philippine power plants for $3.4 billion, beating out bids from four rival groups.
• Commonwealth Bank of Australia, Bank of India to Buy Indonesian Lenders Commonwealth Bank of Australia, the nation's second-largest lender by assets, and Bank of India, the South Asian country's sixth-largest lender, have agreed to buy more than 50 percent of two Indonesian lenders.
European Headlines (via Bloomberg.com)
• CSN Raises Offer for Corus to $9.6 Billion to Trump Tata's Increased Bid Cia. Siderurgica Nacional of Brazil raised its offer for Corus Group Plc (NYSE:CGA), the U.K.'s largest steelmaker, to 4.9 billion pounds ($9.6 billion), topping a sweetened bid from Tata Steel Ltd.
• European Stocks Advance on Takeover Speculation, Paced by Shares of Corus European stocks advanced as takeovers in the steel and financial industries increased, helping fuel a year-end rally in markets.
• Shell Makes Proposals for Sakhalin Venture After Criticisms, Gazprom Says OAO Gazprom said Royal Dutch Shell Plc (NYSE:RDS.A) made new proposals for the Russian company to join its $22 billion Sakhalin-2 oil and gas venture, as President Vladimir Putin expands his control of the world's biggest energy industry.
• Lloyds TSB Says Annual Pretax Profit to Rise 6.3 Percent on Cost Controls Lloyds TSB Group Plc (NYSE:LYG), the U.K.'s biggest provider of checking accounts, said 2006 pretax profit probably rose 6.3 percent after it capped bad loans and cut thousands of jobs again this year.
• Symrise Shares Surge After $1.9 Billion IPO, Biggest in Germany This Year Shares of Symrise AG, the world's fourth-largest maker of food flavors, rose 8.1 percent on their trading debut after the company raised 1.4 billion euros ($1.9 billion) in Germany's biggest initial public offering this year.
U.S. Headlines (via Bloomberg.com)
• Goldman Sachs Hires 17 Amaranth Traders as Flagship Hedge Fund Stumbles Goldman Sachs Group Inc. (NYSE:GS), whose flagship hedge fund declined, hired 17 traders from Amaranth Advisers LLC to expand the firm's investments in debt markets, said a person briefed on the matter.
• Wall Street Earnings May Peak After Three Straight Years of Record Gains After three years of record earnings, the best may have already come and gone for Wall Street.
• Onex, Goldman May Acquire Raytheon's Aircraft Unit, Person Familiar Says Onex Corp., Canada's biggest buyout firm, and Goldman Sachs Group Inc. (GS) may buy Raytheon Co.'s (NYSE:RTN) aircraft unit for about $3 billion, a person with knowledge of the agreement said.
• SAC Capital Buys Phelps Dodge Stake, Will Vote Against Freeport Takeover SAC Capital Advisors LLC, the $10 billion hedge-fund firm run by Steven Cohen, said it bought 5.1 percent of copper miner Phelps Dodge Corp. (PD) and will vote against its proposed takeover by Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX).
• Economists Cut Forecasts for U.S. Growth as Housing, Manufacturing Slump Economic growth in the U.S. weakened this quarter, and the slowdown will carry into the first half of 2007 as a pullback in manufacturing adds to the effect of the slump in housing, a Bloomberg News survey showed.