MarketS DailY - Oct 17

US Markets:

Dow 401.35 +4.68% 8,979.26
Nasdaq 89.38 +5.49% 1,717.71
S.&P. 500 38.59 +4.25% 946.43

Asia at 9 AM

Japan Nikkei 8,589.56 +131.11 +1.55%
Hong Kong Hang Seng 14,991.70 -238.82 -1.49%
China Shanghai 1,917.58 +0.40% +7.64

SGXNifty 3300 +25

Crude Oil $72.50+3.79%+$2.65
Gold $810.70 +0.77% +$6.20

News Today:

* US markets gave a late session bounce recovering almost 800 points from days low.

* Oil slips below $70, only news to cheer in recent times.

* The U.S. consumer-price index was unchanged in September, Gives room for FED to cut rates further.

* Citigroup posted a $2.82 billion quarterly loss.

* Gold slips to one month low below $800.

* Hungarian government is to borrow up to 5 billion euros ($6.7 billion) from the European Central Bank to avoid becoming like Iceland which went bankrupt.

* India Inflation cools down to 11.44%, fall in crude prices helped the fall in inflation.

* Citigroup lowers FY09 and FY10 GDP estimates from 7.5% and 7.4% to 7.2% and 6.6% .