Author: 123jump.com Staff
123jump.com
Last Update: 6:44 PM EDT October 26 2007

U.S. stocks rallied at the opening and closed higher on better than expected earnings from Microsoft. Countrywide, the mortgage lender in the center of the subprime storm, reported third quarter loss of $1.2 billion but forecasted profit in the fourth quarter. For the week, Nasdaq jumped 2.9%, S&P 500 added 2.3%, and Dow up 2.1%. Bovespa Exchange in Brazil soared 52% on the first day of trading. Mexico raised its interest rate by 0.25% to 7.25%. Dollar edged to a record low against euro.