Hello traders!

In the US tonight, the Dow Jones Industrial Average soared 497.48 points to
7,775.86, the S&P500 added 54.38 points at 822.92 and the Nasdaq Composite
climbed 98.5 points to 1,555.77.

Crude oil traded up $1.74 at $53.87 a barrel on Nymex.

See you in the morning with the latest.........

G.

Good morning traders!

In Asia today, the Nikkei was up 272.77 points at 8,488.3, with the Hang Seng
reaching the midpoint up 213.87 points at 13,661.29.

Crude oil eased 21 cents to $53.62 a barrel on Nymex.

Happy trading!

G.

Morning all. Market reports:

Telegraph
The Times
The Times (Need to know)
FT
The Guardian
The Independent
This is Money

The US stock market went up as much yesterday as it went down last time Tim Geithner, the Treasury Secretary, announced a plan to repair the battered banking system. The difference this time was that this was a fully fleshed-out plan to cleanse banks of their toxic assets, assets that have shot confidence in banks' solvency and forced them to row back on the lending to businesses and consumers that keeps the economy humming.
Geithner's gamble

But wade through the pages and pages of press releases, fact sheets and frequently asked question guides released by the US Treasury today, and on not one will you find any reference to how these assets will be valued. Since the core problem to date in removing assets from banks balance sheets has been valuation, youd think the plan might address that?
Valuing toxic assets the weak link in Geithner's plan

A surprise 5.1 per cent rise in sales of US houses today sparked a global rally across stock markets in the UK, America and Europe, adding to optimism sparked by the Treasury's unveiling of plan to spend $1 trillion to boost lending.
Global stocks leap on shock rise in US house sales

In an article for German newspaper Die Welt, Mr Obama called for a deal on quick fiscal stimulus measures, which he said could open the way to a global recovery. The comments highlight the differences between the United States and Europe on the need for further stimulus measures on top of packages that governments already have adopted.
G20: Barack Obama urges leaders to agree on new economic stimulus

The Bank of England policymaker who last year correctly predicted the current surge in unemployment and deep recession yesterday warned that the British economy may not recover this year, and repeated his view that unemployment is likely to climb above the 3 million mark. He said the rising jobless figures show "the taste of something horrible" to come.
Blanchflower warns of 'horrible' things to come

Many British businesses are giving up trading before being formally forced into insolvency as they face a worsening economy and banks reluctant to provide them with the funding they need to stay afloat, research published today suggests.
Company liquidations hit 16-year peak

Struggling retailers face a multimillion-pound rental payment on Wednesday that could lead to a fresh wave of administrations in the sector unless they are able to secure last-minute rescue deals.
Rent day for retailers piles on pressure at troubled chains

China yesterday threw down a challenge to Americas 50-year dominance of the global economy as it proposed replacing the dollar as the worlds main reserve currency with a new global system under the control of the International Monetary Fund.
China challenges power of the dollar as it flexes its economic muscles

The country may be on the cusp of a Japanese-style "Lost Decade", according to a clutch of grim forecasts by leading banks and economic institutes. Commerzbank said output is likely to contract by 6pc to 7pc this year as the global recession wreaks havoc on German industrial exports. Foreign industrial orders have fallen by 37pc over the last year.
German economy to contract 7pc this year

Pressure is growing on the Government to rescue Dunfermline Building Society before mounting fears about the ailing mutual's financial health lead to a run on the society by its 250,000 depositors.
Taxpayer to save Dunfermline if recapitalisation plan fails

The Financial Services Authority has cancelled the annual review of its own effectiveness, despite criticisms of its failure to prevent the near collapse of banks including HBOS and Bradford & Bingley. The decision was taken at a board meeting chaired by Lord Turner, who last week presented his review of banking regulation, including reforms of the FSA.
FSA ditches internal review of its 'effectiveness'

NIKKEI 225	AUSTRALIA ASX200	SHANGHAI	HANG SENG

KOSPI	VIX	GOLD	NYMEX CRUDE

End-of-day Market Overview