Dow Jones hits 13-mnth high

US markets rallied after G-20 and Geithner says will continue with stimulus measures. Dow Jones hits 13-month high. US dollar fell to a 15-month low. S&P 500 has recovered 6.12% in last 6 trading sessions, 7 points short of 2009 high at 1100. At closing bell, Dow Jones was up 203.5 points or 2% at 10,227, S&P 500 was up 24 points or 2.2% at 1,093 and Nasdaq was up 41.6 points or 2% at 2,154. Asian markets gained in the morning session on Tuesday. Nikkei 225 was up 1.6%, Hang Seng was up 1.35%, Straits Times, Kospi were up 1%, Shanghai Composite, Taiwan Weighted were up 0.7%. European shares hit 2-week closing high; CAC was up 2.1%, DAX was up 2.4% and FTSE was up 1.8%. CBOE VIX ended down 4.3% at 23.15.

Global Movers & Shakers:

In Indian ADRs, ICICI Bank was up 8.8%, HDFC Bank was up 8.3% and Satyam Computers was up 7.25%. In Metal stocks, BHP Billiton was up 5.2%, Rio Tinto was up 5.9%, Vedanta was up 4.6% and AreclorMittal was up 5%. In Mineral companies, Anglo American was up 11.5% and XSTRATA was up 5.8%. US KBW Bank index was up 3.6%, in which American Express was up 5%, BoA & Wells Fargo were up 4.8%. Applied Materials were up 5.2%. Micron Technology was up 6% after Wells Fargo raised its 2010 growth projection for chipmakers.

Global news:

China’s passenger-car sales rose 76% to 946,400 units in October. China raised gasoline, diesel and jet fuel prices by 8%, airlines to resume fuel surcharges on domestic flights. South Korean banks’ ratio of nonperforming loans to total debt dropped to 1.48% in September from 1.51%.

Commodities:

Reuters CRB Index gained 1.7%. Crude oil was up 2.6% at $ 79.43/bbl. Gold ended up 0.5% at $ 1101.4/ounce, hits new all time high of $ 1111.7/ounce during the day. Copper was up 1% at $ 6540\ton, Aluminum was at 1 week highs. Baltic Dry Index was up 2.5%.

Currencies:

Dollar Index was down nearly 1%, back to 2009 lows. USD was down 45 bps Vs Euro at 1.4979. Yen appreciated 22 bps vs USD at 90.

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