20 Apr '11, 4pm

GLOBAL MARKETS - World stocks, commodities rally on earnings

GLOBAL MARKETS - World stocks, commodities rally on earnings

NEW YORK (Reuters) - Upbeat earnings and outlooks from companies including chipmaker Intel lifted global stocks and fueled risk appetite on Wednesday, driving commodities higher and the Australian dollar to a post-float high. Solid corporate earnings in the U.S. and Europe bolstered optimism about the economy and offset concerns of sovereign debt problems on both sides of the Atlantic after Standard & Poor's on Monday downwardly revised its outlook for the United States' prized AAA credit rating. "It seemed like the earnings season got off to a bit of a shaky start, but now companies are coming through with very strong results, by and large," said Tim Ghriskey, chief investment officer of Solaris Asset Management in Bedford Hills, New York . "This really shows that corporations are delivering strong results and benefiting from the slow but steady economic improvement." Wor...

Full article: http://sg.news.yahoo.com/global-markets-techs-materials-l...

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