Overnight Briefing: American Timezone

U.S. stocks Rose

Fri, May 9 2008, 05:44 GMT
by Jyske Bank Team

Jyske Bank


  • Oil price at record above USD 124

  • Citibank mulls up to USD 400 billion asset sales

  • Australia central bank pins hopes on demand slow down

Today’s main events:

  • NOK Consumer Price Index

  • NOK Norges Bank’s Svein Gjedrem speaks

  • USD Trade Balance


American Time Zone:

U.S. stocks Rose

U.S. stocks advanced, rebounding from their biggest drop in a month, after Wal-Mart Stores Inc. and News Corp. posted sales that topped analysts' estimates and commodity producers rallied on higher gold and oil prices.

Wal-Mart jumped as shoppers seeking discounts boosted sales. News Corp., the owner of Fox television, rose the most in five weeks after revenue was lifted by advertisements for “American Idol” and the Super Bowl. Freeport-McMoRan Copper & Gold Inc. helped send raw-materials companies to the biggest gain in the Standard & Poor's 500 Index, while Chevron Corp. led the Dow Jones Industrial Average higher. The advance was limited as record oil prices pushed other consumer shares down.

Published on  Fri, May 9 2008, 05:46 GMT

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