- Stocks soared Wednesday, after results from banking companies including Dow component JP Morgan Chase & Co. signaled a strong quarterly earnings period. The Dow-Jones industrials gained 128 points and the S&P 500 had its largest point gain in almost six months. A sharp drop in oil prices and a reassuring assessment of the economy helped investors overcome their disappointment over Intel Corp.'s earnings and troubling sales forecasts.
- U.S. Housing starts rose 3.4% in September, the Commerce Department said Wednesday.
- The U.S. Federal Reserve's Beige Book said that most districts were reporting their economic activity as being "moderate or gradual."
- The Mortgage Bankers Association said its index of mortgage loan application volume for the week ended Oct. 14 increased 6.1 percent to 737.5, reversing direction after falling for three successive weeks.
- The U.S. Department of Energy said that:
Crude oil supplies were up 5.6 million barrels last week to 312.0 million barrels.
Unleaded gasoline supplies were up 2.9 million barrels
Heating oil supplies were down 600,000 barrels.
- Thailand's central bank raised its benchmark interest rate by half a percentage point, more than predicted.
- Wholesale sales in Canada were up 0.7% in August, excluding autos sales declined 0.6%.
- Japanese stocks fell for a sixth day as investors took a wait-and-see attitude ahead of the third-quarter earnings season.
- Orange juice jumps as Wilma appears to be on track for Florida.
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