MARKET ROUNDUP (Source Bloomberg)
U.S. Stocks Rally Most in 7 Weeks Amid Economic Optimism; as reports on employment and manufacturing topped estimates while consumer confidence climbed in October to a more than four-year high. The S&P 500 (SPX) gained 1.1 percent to 1,427.59 in New York. The Dow advanced 136.16 points, or 1 percent, to 13,232.62. Both gauges posted their biggest advance since Sept. 13. Volume for exchange-listed stocks in the U.S. was about 6.8 billion shares, or 14 percent above the three-month average.
European Stocks Rise Most in Two Weeks on U.S. Reports; amid better-than-forecast U.S. economic reports and a rebound in Chinese manufacturing. France’s CAC 40 and the U.K.’s FTSE 100 both climbed 1.4 percent. Germany’s DAX added 1 percent.
Oil Trades Near Two-Week High on Unexpected Drop in Stockpiles; after U.S. crude stockpiles unexpectedly declined and reports signaled the nation’s economic growth may be accelerating. Crude for December delivery was at $86.90 a barrel, down 19 cents, on the New York Mercantile Exchange at 7:19 a.m. Singapore time. It advanced 85 cents to $87.09 yesterday, the highest close since Oct. 22. Prices are down 12 percent this year and up 0.7 percent this week.
Source:Jupiter Securities Research, 02 November 2012
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