U.S. MARKET AVERAGES

Stock markets opened lower, despite predictions of a positive start. The reported lower-than-expected-revenue from Boeing weighed on the Dow and disappointing guidance from Amazon has an impact on the Nasdaq. Recently averages have rebounded from their intraday lows and are currently sitting near the flat line.

Utility stocks are lower in the early going, as Exelon (EXC: chart) slides on its quarterly report. The Dow Jones Utilities Index is showing a decline of about 1.1%. The gaming sector is also weak, down about 1.2% on an earnings disappointment from MGM Mirage (MGM: chart).

The gold sector iis a notable gainer in the early going, climbing by 1.3%. Chemical stocks are also strong, as DuPont (DD: chart) is extending gains.

MOVERS AND SHAKERS

Dow component Boeing (BA: chart) reported higher third-quarter earnings, but its sales decreased 4% following a strike. The company posted third-quarter net income of $1.01 billion, or $1.26 a share, compared with $456 million, or 56 cents, for the same period a year ago. Boeing’s shares fell 1.5%.

Car maker DaimlerChrysler (DCX: chart) beat its rivals General Motors (GM: chart) and Ford Motor (F: chart) with its third-quarter results. The company’s stock gained 0.7%.

Amazon’s (AMZN: chart) quarterly earnings decreased 44% and its fourth-quarter sales estimates were below Wall Street expectations. The company’s stock dropped 11%.

Citigroup upgraded International Paper (IP: chart) to “buy” from “hold”. The company is expected to gain today.

ECONOMIC NEWS

10-year bondis approaching 4.57% yield driving home builder stocks lower. Hovnanian declines about 1%, Lennar is down 2.1%,

Crude oil inventories advanced sharply in the latest week, according to government data released Wednesday, adding to a recent streak of gains. Stocks of gasoline climbed as well, though only slightly.

The Department of Energy's Energy Information Administration revealed that crude oil inventories climbed by 4.4 million barrels for the week ended October 21, rising to 316.4 million barrels from the 312.0 million barrels recorded in the previous week. This followed an advance of 5.6 million barrels for the prior week. Oil inventories are 12.3% higher than their levels of the same time last year.

Gasoline inventories posted a week-over-week advance of 200,000 barrels, the government said, adding to the previous week's advance of 2.9 million barrels. Gasoline stocks are now 3.9% below their levels of last year. Inventories of distillate fuel oil fell by 1.6 million barrels in the most recent week.

INTERNATIONAL MARKET NEWS

Asian-Pacific benchmarks ended mixed with the Nikkei rising 0.9% on the back of strong resource-related stocks like JG Corp. and Chyoda Corp. Among the other regional markets, Australia’s All Ordinaries climbed 1.1%, Hong Hong’s Hang Seng closed flat, while South Korea’s Kospi declined 0.2%.

European markets traded higher at mid-day dealings on higher commodity prices, which gave a boost to miners like Rio Tinto and oil company BP, as well as on upbeat forecast from DaimlerCrysler. The German DAX 30 gained 0.6%, the French CAC 40 added 0.6%, and London’s FTSE 100 rose 0.8%.

ENERGY, METALS, CURRENCIES

Crude oil futures slightly declined, though still hovering round $62 a barrel ahead of winter season and oil inventory report. Light sweet crude December contract fell 56 cents to $61.88 a barrel on the Nymex. Heating oil traded at $1.8871 a gallon. Gasoline lost nearly 2 cents to $1.6380. Natural gas fell 14 cents to $14.20 per 1,000 cubic feet. London Brent dropped 54 cents to $59.70.

Gold prices lost ground in European trading. In London gold traded at the recommended price of $471.55 per troy ounce, down from $471.85. In Zurich it fell to $471.35, down from $472.35. In Hong Kong the precious metal rose $5.30 to close at $472.35. Silver opened at $7.80, up from $7.78.

In European trading the U.S. dollar climbed against its major counterparts. The euro was quoted at $1.2065, down from $1.2096. The dollar changed hands at 115.42 yen, up from 114.88. The British pound was trading at $1.7770, down from $1.7844.