U.S. markets surged higher in trading Monday ahead of earnings news from Apple and IBM
- Dow up 0.73%
- NASDAQ up 0.48%
- S&P 500 up 0.72%
Key U.S. News
- Apple beat earnings expectations, but the stock went lower in after market trading because iPad sales were weak.
- IBM also beat expectations, but too headed lower in after hours trading because it used a stock repurchase to boost earnings.
- Microsoft’s chief software architect Ray Ozzie stepped down, and its shares also fell in after market trading.
- U.S. industrial production data came in weak, with month-over-month growth down 0.2% in September.
Economic data to watch for in Asia
- No major economic data releases in Asia tomorrow.
Key Asian news
- Xi Jin Ping could be in line to be China’s next president after being named vice-chairman of a key military commission in the country. The only other civilian member of the commission is President Hu Jintao.
- Pakistan has denied reports that Osama Bin Laden is operating in the country. The government was forced to deny a NATO officials claim that Bin Laden was still in the country.
- Saudi Arabia has informed France that Paris is under imminent threat of a terrorist attack from Al Qaeda.
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