Excellent corporate earnings stir US stocks to soar; Dow and Nasdaq up 50 pts an

Stimulated by the news that Time Warner-AOL announced the earnings is within expectation and the decrease in ad income stopped and the market anticipation that corporate earnings outlook stepped out of the recession, blue chips posted choppy strong performance, with Dow & Jones Industrial Average Index up 50.66 pts, or 0.5% to close at 10647.33 pts and Nasdaq gaining 38.58 pts, or 1.94% to end at 2031.24 pts. Several tech stocks performed impressively. Oracle and Intel (4335) both snatched 4.53% and 3.07% to finish at US$0.76 and US$27.49. However, some tech stocks suffered big down-ranges, with Exodes Comms, Tellabs, Level 3 Comms, Mcleodusa and JDS Uniphase all erasing 20.77%, 24.34%, 12.72%, 11.54% and 7.75% to close at US$2.25, US$16.04, US$4.53, US$2.3 and US$10 respectively. US 30-year treasuries yield lost 0.019% to end at 5.665%. European stocks went separate ways, with UK Financial Times up 19.2 pts, or 0.34% to finish at 5699.6 pts. British Telecom fell 2.99% to close at 422.5 pennies. French CAC 40 Index shed 28.92 pts, or 0.56% to end at 5170.49 pts. German DAX Index cast off 46.49 pts, or 0.78% to close at 5876.04 pts. London Hong Kong stocks dropped after initial rise and then surged before the closing. HSLRI declined by 6.85 pts over the closing yesterday in Hong Kong to end 12911.86 pts.

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