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Jul 19, 2011

Standard & Poor's Latin America Highlights Selected Reports:Sovereign Government Rating Methodology And Assumptions.

Standard & Poor's LatinAmerica Highlights

Selected Reports

Sovereign Government Rating Methodology And Assumptions

This update provides additional clarity by introducing a finer calibration of the five major rating factors that form the foundation of a sovereign analysis

¿Qué tan vulnerables son las empresas de América Latina a los precios de las materias primas internacionales?

La recesión mundial de 2008-2009 tuvo un efecto significativo en los mercados de materias primas internacionales ( commodities ). A medida que la demanda caía, los precios mundiales de las materias primas internacionales se desplomaron, repentina y considerablemente.

Rating News

Argentina

Standard & Poor's asigna calificación global ‘B' a Hillview Enterprises Inc. y al bono que se propone emitir por US$100 millones

Buenos Aires, 30 de Junio de 2011. Standard & Poor's Rating Services asignó una calificación de ‘B' a la compañía radicada en Panamá, Hillview Enterprises Inc. y a los bonos a ser emitidos por ésta.

English Version

Standard & Poor’s asigna calificación a Obligaciones Negociables Serie 3 emitidas por GPAT Compañía Financiera S.A.

Buenos Aires, 7 de julio de 2011. Standard & Poor's asignó calificación de deuda de corto plazo ‘raA-1+' a la Serie 3 de Obligaciones Negociables a ser emitidas por GPAT Compañía Financiera a 12 meses de plazo.

Standard & Poor's Asignó una Calificación 'B-' en Escala Global y 'raBBB+' en Escala Nacional a los Bonos por hasta $150 millones a Ser Emitidos por Transener

BUENOS AIRES (Standard & Poor's). 7 de julio de 2011— Standard & Poor's Ratings Services afirmó hoy la calificación 'B-' en escala global de Compañía de Transporte de Energía Eléctrica en Alta Tensión Transener S.A.

English Version

Standard & Poor's Asigna una Calificación ‘B' en Escala Global y ‘raA' en Escala Local a los Bonos por hasta US$250 millones a ser emitidos por CLISA

BUENOS AIRES (Standard & Poor's) 8 de julio de 2011—Standard & Poor's Rating Services afirmó hoy las calificaciones de CLISA en escala global ‘B' y en escala local ‘raA'.

English Version

Brasil

Standard & Poor's atribuiu os ratings ‘brBBB-/brA-3' na Escala Nacional Brasil ao Banco JBS S.A. com perspectiva estável

Em 27 de junho de 2011, a Standard & Poor's Ratings Services atribuiu em sua Escala Nacional Brasil os ratings de crédito de contraparte de longo e curto prazos ‘brBBB-/brA-3'ao Banco JBS S.A.

Ratings da Companhia Brasileira de Distribuição não são imediatamente afetados pela proposta de fusão com o Carrefour Brasil

SÃO PAULO (Standard & Poor's) 5 de julho de 2011 – A Standard & Poor's Ratings Services disse hoje que os ratings atribuídos à Companhia Brasileira de Distribuição (“CBD”: brAA-/Estável/--) não são imediatamente afetados

Chile

Standard & Poor's Afirmó la Clasificación Subyacente ‘BB' de Vespucio Norte Express; La Perspectiva es Estable

BUENOS AIRES (Standard & Poor's), 1 de julio de 2011 – Standard & Poor's Ratings Services anunció que afirmó su clasificación subyacente del operador Chileno de autopistas por peaje Sociedad Concesionaria Vespucio Norte Express S.A. (VNE) en ‘BB'.

English Version

Standard & Poor's Afirmó Las Clasificaciones de CAP S.A. en ‘BBB-', Basado en Su Sólido Desempeño Operativo

Buenos Aires, 29 de Junio de 2011.- Standard & Poor's Rating Services afirmó su clasificación de ‘BBB-' de CAP S.A. (CAP).

English Version

Sociedad de Inversiones Pampa Calichera S.A.

Good credit quality of the portfolio; and Strong liquidity position. Relatively volatile debt service coverage; Aggressive gross debt leverage; Exposure to refinancing risk in 2014; Portfolio concentration; and Relatively low portfolio liquidity.

Autopista del Maipo Sociedad Concesionaria S.A.

The 'BBB-' senior secured debt ratings on Chilean toll road Autopista del Maipo Sociedad Concesionaria S.A.'s (Maipo) fixed-rate notes reflect the higher of the project's underlying rating (SPUR), and that of the bond-insurance provider.

Talca-Chillan Sociedad Concesionaria S.A.

Standard & Poor's Ratings Services' 'BBB-' long-term senior secured debt ratings on Chilean toll road operator Talca Chillán Sociedad Concesionaria S.A. (Tachi) reflect the higher between the project's underlying rating (SPUR) and that of the bond-in...

Colombia

Standard & Poor's sube calificaciones de Pacific Rubiales a 'BB' de 'BB-' por su mejor desempeño financiero

México, D.F., 5 de julio de 2011.- Standard & Poor's Ratings Services subió su calificación de riesgo crediticio de Pacific Rubiales Energy Corp. a ‘BB' de ‘BB-'.

El Salvador

Banco HSBC Salvadoreño

Las calificaciones del Banco HSBC Salvadoreño S.A. reflejan la vulnerabilidad de su calidad de activos y por su baja cobertura de reservas de activos improductivos (NPAs, por sus siglas en inglés).

México

S&P adopta acciones de calificación sobre 26 transacciones estructuradas respaldadas por participaciones federales

México, D.F., 6 de julio de 2011.- Standard & Poor's realizó hoy acciones de calificación sobre 26 transacciones estructuradas respaldadas por participaciones federales en México; seis de ellas son emisiones de certificados bursátiles y el resto corresponden a créditos bancarios estructurados.

S&P asigna calificación de ‘mxAA+' a Grupo Aeroportuario del Centro Norte (OMA) y a su emisión propuesta de certificados bursátiles hasta por MXN1,500 millones; la perspectiva es estable

México, D.F., 29 de junio de 2011.- Standard & Poor's asignó hoy su calificación de riesgo crediticio de largo plazo en escala nacional –CaVal– de ‘mxAA+' a Grupo Aeroportuario Centro Norte S.A.B. de C.V.

Standard & Poor's sube calificaciones de Hipotecaria Su Casita a 'CCC' tras canje de deuda

México, D.F., 29 de junio de 2011.- Standard & Poor's Ratings Services subió hoy sus calificaciones de crédito de contraparte en escala global de Hipotecaria Su Casita S.A. de C.V. SOFOM E.N.R.

Paraguay

Banco Bilbao Vizcaya Argentaria Paraguay S.A. 'B+/B' Counterparty Credit Ratings Affirmed; Outlook Remains Positive

BBVA Paraguay has a good market position, solid financial indicators, and explicit support from its parent. We are affirming our 'B+/B' counterparty credit ratings on BBVA Paraguay.

Perú

IFH Peru Ltd.

Standard & Poor's Ratings Services' ratings on Bahamas-based holding company IFH Peru Ltd. reflect an assessment of the company's business risk profile as weak and its financial risk profile as aggressive.

República Dominicana

Cervecería Nacional Dominicana C. Por A.

Standard & Poor's Rating Services' ratings on Cervecería Nacional Dominicana C. Por A. (CND) reflects the company's highly leveraged financial risk profile and weak business profile, the challenges of operating in the Dominican Republic.

The Australian Capital Circle: Humble Murdoch sorry but won't resign

Capital Circle Newsletter
Humble Murdoch sorry but won't resign
 
UK media inquiry overshadows carbon debate as Rupert and James Murdoch say they were let down by trusted company figures.

Julia Gillard is visiting a wind farm at Gunning, NSW, about 10am today. She has some radio interviews scheduled for this morning.
Tony Abbott is in Victoria today, travelling to the heart of the state's coal and energy sector in the Latrobe Valley. Earlier this morning, he attended the launch of Walk for Autism at Mt Martha with frontbencher Greg Hunt.
Hackgate: There'll be many a bleary eye in Canberra today, and not because of the Tour de France. The testimonies of Rupert and James Murdoch to a British parliamentary inquiry were compelling viewing for media and political types here, given the position of News Ltd (publisher of The Australian) in the newspaper market. The issue is likely to overshadow the carbon debate here today. While the UK hacking scandal is a long way from Australia, there could be fallout for the local media landscape. The government is still mulling over the terms of a potential inquiry into the Australian media being urged by the Greens. Bob Brown is on holidays but may break into his leave for a press conference today.
The News Corporation chairman and chief executive described his appearance as the "most humble day of my career". He and son James were apologetic for the conduct of News of the World staff, but did not accept responsibility for what had happened. In the most dramatic moment of the testimony, Mr Murdoch Snr had what appeared to be a cream pie thrust into his face. His wife Wendi Deng, seeing the assailant coming, leaped up and appeared to strike him.
You can read Rupert Murdoch's written statement to the inquiry here. The Guardian has a running blog detailing the Murdochs testimonies, and that of former News International chief executive Rebekah Brooks.
Cosy: Julia Gillard is clearly having trouble selling her carbon tax plan, but we suggest she steer clear of this sort of advice to households from climate change bureaucrats. They suggest families &q
Read more...
 
Mumble
Peter Brent
Peter Brent
 
Govt-funded ads another own goal
In May last year the Rudd government announced it would run taxpayer-funded television advertisements to explain its mining tax policy. This was after…
 
More Peter Brent

The Australian Business Brief - News by Sector




News By Sector

Companies
News board rallies behind Murdoch
Markets
Wall St in biggest rally of 2011
Wealth
High-yield stocks light the way
Aviation
Airlines ride high as fuel fears ease
Economics
Obama backs new debt plan
Financial Services
BT pulls off dollar dazzler
Legal Affairs
Adapt or perish, firms warned
Media
Murdoch rules out resigning
Mining & Energy
Peabody eyes more acquisitions
Property
ING fund sells US retirement assets
Small Business
Local togs get piece of US action

Breaking News: Post-ABC News poll: Obama, Republicans viewed as not willing enough to compromise on debt ceiling | The Washington Post Breaking News


Breaking News Alert: Post-ABC News poll: Obama, Republicans viewed as not willing enough to compromise on debt ceiling
July 19, 2011
----------------------------------------

Majorities of Americans see both President Obama and congressional
Republicans as not being willing enough to compromise in their stalemated
budget negotiations, but the public sees the GOP leaders as particularly
intransigent, according to a new Washington Post-ABC News Poll.

There is also growing dissatisfaction among Republicans with the hard-line
stance of their congressional representatives: 58 percent now say their
leaders are not doing enough to strike a deal, up from 42 percent in March.

http://link.email.washingtonpost.com/r/KYNZS9/M9UPMO/5MPHPU/R4SXBW/3P2OB/1G/h

For more information, visit washingtonpost.com

MarketWatch | Persona Personal Daily: Starting a business? Heed these tips


MarketWatch

Personal Finance Daily
JULY 19, 2011

Starting a business? Heed these tips

By MarketWatch



Don't miss these top stories:

A catastrophic job market like this one can serve as a great impetus for entrepreneurs to try their hand at their own still-half-baked idea. And who better to offer advice to aspiring business owners than people who successfully managed to get their own fledgling business off the ground? Read our story today on tips from young entrepreneurs for wannabe entrepreneurs.

Plus, read Jennifer Waters's column on why you don't need to be afraid of doing your banking chores on your smartphone, get the latest real-estate news (surprisingly positive, for once), and find out what healthy snacks hotels nationwide are stocking in their minibars (partly as a result of travelers demanding fresher, more natural food).

One tip for entrepreneurs, from a co-founder of daily-deal site LivingSocial: Assume your first idea is wrong. Eventually, he says, you'll figure it out.

Andrea Coombes , Personal Finance editor

Entrepreneurs offer tips on starting a business

Want to start your own business? These 20- and 30-something entrepreneurs, including a co-founder of daily-deal website LivingSocial, offer guidelines on how to make a successful go of it.
Read more: Entrepreneurs offer tips on starting a business.


CONSUMERS

Don't fear banking on your smartphone

Consumers are quickly adopting smartphones, but they're not using them for mobile banking.
Read more: Don't fear banking on your smartphone.


TRAVEL

Healthy, natural snacks invade hotel minibars

Hotels and resorts are increasingly stocking minibars with healthier alternatives to traditional high-fat, high-sugar snacks — a boon to business and leisure travelers as well as the hospitality industry.
Read more: Healthy, natural snacks invade hotel minibars.


REAL ESTATE

Housing starts rise 14.6% to five-month high

Housing starts show a 14.6% increase for June, reaching a seasonally adjusted annual rate of 629,000 units and far outstripping forecasts, according to government data. It's the highest level for the annual rate since January, as multifamily starts surge while single-family starts also rise.
Read more: Housing starts rise 14.6% to five-month high.


What's real and (maybe) not in housing starts

The data on housing starts for June were so strong it's worth looking at what trends are for real, and what may be one-month aberrations, writes Steve Goldstein.
Read more: What's real and (maybe) not in housing starts.


ECONOMY & POLITICS

Obama lauds new ‘Gang of Six' debt plan

President Barack Obama says that there's been ‘some progress' in talks with lawmakers about raising the U.S. debt limit and lauds a newly released Senate plan that would cut $3.7 trillion from deficits over 10 years.
Read more: Obama lauds new ‘Gang of Six' debt plan.


House plan to raise debt ceiling heads for vote

Ignoring a White House veto threat, House Republicans are moving toward a vote late Tuesday afternoon on a bill that would tie an increase in the debt ceiling to deep federal-spending cuts and a balanced-budget amendment.
Read more: House plan to raise debt ceiling heads for vote.


Perils of a default

If the politicians do not agree on raising the debt limit, virtually everyone in the country will suffer the consequences, writes Irwin Kellner.
Read more: Perils of a default.


Republican to introduce derivatives reform bills

A key Republican lawmaker on Tuesday said he planned to introduce legislation by September that will seek to make changes to the derivatives piece of the sweeping Dodd-Frank Act, seeking to limit costs for smaller companies.
Read more: Republican to introduce derivatives reform bills.


1 reason Obama can lose in 2012

If Obama loses re-election, there will be plenty of people to blame, but the defeat will come down to one critical mistake, writes David Weidner.
Read more: 1 reason Obama can lose in 2012.


INVESTING

A market beset by worries

Could age be catching up to the bull? Kevin Marder ponders the objective evidence.
Read more: A market beset by worries.


Two funds for the fizzling financials

Exchange-traded funds offer opportunities to profit from the fizzling financial sector.
Read more: Two funds for the fizzling financials.


Goldman's best days may be over

Risk is off at Goldman along with outsized profits. Maybe we're the ones who need to get used to it, writes David Weidner.
Read more: Goldman's best days may be over.


5 buys, 5 sells for 10 long years of no growth

A recession is coming in 2012 and then the U.S. economy will do little until 2020. What investments should you buy and sell to prepare for this decade of no growth.
Read more: 5 buys, 5 sells for 10 long years of no growth.


Gold's run is almost over

For contrarian investors, the sentiment picture has deteriorated markedly in the gold market, as most of the recalcitrant bears have thrown in the towel and are now bullish.
Read more: Gold's run is almost over.


IMF: Fix Europe crisis or risk global spillover

Unless euro-zone leaders boost the size and flexibility of its rescue fund as part of a wide-ranging effort to end the region's sovereign-debt woes, the crisis could intensify and have "major global consequences," the IMF warns.
Read more: IMF: Fix Europe crisis or risk global spillover.


Greece aid hopes ease Europe debt anxiety

Investor anxiety over Europe's sovereign debt drama ease as signs of a potential crack emerge in the European Central Bank's opposition to any aid measures for Greece that would result in a default by Athens.
Read more: Greece aid hopes ease Europe debt anxiety.


Energy company blunders with "fracking" book

Being held up to public ridicule probably wasn't the idea when a Calgary-based natural gas drilling company put out a children's coloring book recently extolling the virtues of hydraulic fracturing, or fracking.
Read more: Energy company blunders with "fracking" book.


How Murdoch can satisfy Wall Street

Investors are looking for assurances that the worst has passed for News Corp., writes Jon Friedman.
Read more: How Murdoch can satisfy Wall Street.


Patent wars could reshape smartphone market

Android's patent position looks more vulnerable following a recent court victory by Apple against HTC. Will handset makers cool their enthusiasm for the Android platform if the legal risk grows?
Read more: Patent wars could reshape smartphone market.

Money Show Investors Daily Alert: 4 Oil Companies Thriving in Africa



Investors Daily Alert
NEW! THE DAILY GURUCandid Daily Interviews with Top Market Experts
3 Sectors to Watch in the Short Term, Rob Rikoon

Jim Jubak on MoneyShow.com
Google Can Celebrate…For Now
Would a US Default Mean Disaster?

Today's Top Pros' Top Picks
2 Short and 3 Long Short-Term Plays, Michael Shulman
Profit on the Future of Education, Stephen Ellis

Today's Gurus' Views & Strategies
The Fix Is Still In, Jack Adamo
Should Retirees Avoid ETFs?, Michael Rawson

Today's Charts in Play
Caution, Earnings Ahead, Tom Aspray

MoneyShow.com Exclusive Interviews
Royalty Trusts Still Powering Through, Roger Conrad

Portfolio Strategies
Don’t Get Infected by Bond-itis, Rob Carrick

Global Investing Ideas
4 Oil Companies Thriving in Africa, Elliott Gue
The Gang That Couldn't See Straight, Igor Greenwald

Today's Featured Videos
Are Global ETFs Right for Your Portfolio, Doug Fabian
3 Large-Cap Funds for Today's Economy, Mark Salzinger

Reuters - Daily Investor Update: Wall Street rises on profits.



News
LATEST NEWS
Wall Street rises on profits
NEW YORK (Reuters) - Stocks recorded their best day since March on Tuesday after strong corporate results and renewed hope for an agreement in Washington on thorny budget issues boosted investor confidence. | Full Article

Apple revenue smashes Wall Street forecasts
July 19, 2011 04:34 PM ET
SAN FRANCISCO (Reuters) - Apple Inc's quarterly revenue smashed Wall Street expectations for at least the 9th straight quarter, driven by blockbuster sales of its hot iPhones and iPads. | Full Article
Apple directors talked CEO job with recruiters: report
July 19, 2011 04:01 PM ET
LOS ANGELES (Reuters) - Several Apple Inc board members have discussed a successor to CEO Steve Jobs since the Silicon Valley icon went on medical leave in January, and have discussed it with at least one head of a high-profile tech company, the Wall Street Journal reported on Tuesday. | Full Article
Merkel damps expectations of euro zone Greek deal
July 19, 2011 04:18 PM ET
BRUSSELS/HANOVER, Germany (Reuters) - German Chancellor Angela Merkel, Europe's reluctant paymaster, doused expectations of any comprehensive solution to Greece's debt crisis at an emergency euro zone summit on Thursday. | Full Article
Weak trading bites into Goldman profits
July 19, 2011 02:47 PM ET
NEW YORK (Reuters) - Goldman Sachs' anemic second-quarter results on Tuesday rattled investors and cast a pall on its reputation as Wall Street's trading powerhouse. | Full Article

US TOP NEWS
Yahoo revenue dips in Q2
July 19, 2011 04:27 PM ET
SAN FRANCISCO (Reuters) - Yahoo Inc's net revenue declined slightly in the second quarter on weakness in its display advertising business, and shares of the Internet search company dropped roughly 2 percent in after-hours trading. | Full Article
Murdoch attacked as defends self to UK parliament
July 19, 2011 03:44 PM ET
LONDON (Reuters) - Rupert Murdoch, unperturbed by a foam pie attack in Britain's parliament, apologized on Tuesday for the phone hacking scandal that has engulfed his empire but said he would not resign as he had himself been let down by others. | Full Article
Obama praises "Gang of Six" plan, wants talks
July 19, 2011 03:58 PM ET
WASHINGTON (Reuters) - Saying time was running out for an agreement to raise the U.S. borrowing limit, President Barack Obama on Tuesday supported a bipartisan proposal for a new deficit-reduction plan aimed at averting a debt default. | Full Article
Exclusive: U.S. backup debt plan doesn't support rating: Moody's
July 19, 2011 03:34 PM ET
NEW YORK (Reuters) - A backup plan to raise the U.S. debt ceiling and avoid default could still lead to a negative outlook on the country's ratings, Moody's said on Tuesday, highlighting the plan's failure to substantially reduce the deficit. | Full Article
June housing starts at 6-month high, permits up
July 19, 2011 03:59 PM ET
WASHINGTON (Reuters) - Groundbreaking for homes scaled a six-month high in June, partly reflecting growing demand for rental apartments, a government report showed on Tuesday. | Full Article

HEALTH NEWS
Exclusive: Soda makers escalate attacks over obesity
Christie approves medical marijuana law for New Jersey
U.S. health body backs free birth control for women
Panel rejects AstraZeneca, Bristol diabetes pill
Health group bashes high-calorie restaurant food

NYT: Afternoon Business News:Google Spending Millions to Find the Next Google



BUSINESS

Google Spending Millions to Find the Next Google

By CLAIRE CAIN MILLER
Google is playing venture capitalist in the hottest market for technology start-up companies in over a decade.

Dow Barrels Ahead After Debt Remarks

By THE ASSOCIATED PRESS
The president's comments on progress toward agreement on the debt ceiling gave a boost to shares, already up on earnings news.
Bits Blog

Arrests Likely in Hacker Group Case

By NICK BILTON and WILLIAM K. RASHBAUM
Federal authorities in Washington are expected to announce charges on Tuesday against about a dozen suspected members of the hacker group Anonymous, officials said.

Housing Starts Rose 14% in June

By CHRISTINE HAUSER
Builders broke ground at a seasonally adjusted annual rate of 629,000 units in June, up 14 percent from May, the Department of Commerce reported.

Borrowing Costs Rise for Spain

By RAPHAEL MINDER AND JACK EWING
Bank borrowing from the E.C.B. also spiked in another sign of mounting jitters amid continued haggling over another Greek rescue.

Apple reports surge in third quarter earnings: MarketWatch - Bulletin


By Dan Gallagher

SAN FRANCISCO (MarketWatch) - Apple Inc. reported a surge in third-fiscal quarter earnings on Tuesday afternoon, solidly beating Wall Street's estimates. For the quarter ended June 25, Apple AAPL -0.17% reported net income of $7.31 billion, or $7.79 per share, compared to net income of $3.25 billion, or $3.51 per share, for the same period the previous year. Revenue surged 82% to $28.6 billion for the quarter. Analysts had been expecting earnings of $5.80 per share on revenue of $24.9 billion, according to consensus forecasts from Thomson Reuters. For the quarter ending Sept. 30, Apple said it expects revenue of $25 billion and earnings per share of $5.50. Analysts were expecting revenue of $27.7 billion with earnings of $6.42 per share for the period.

CBS NEWS | Political Hotsheet Top Stories: GOP debt plan: Balanced, or bad policy?

The CBS News Political Hotsheet newsletter 
CBS POLITICAL HOTSHEET TOP STORIES

GOP debt plan: Balanced, or bad policy? Republican House debt plan is controversial, but it could at least give conservatives cover to take a more moderate vote later

Obama on debt talks: President praises "Gang of Six" senators proposal on debt reduction, urges swift action ahead of Aug. 2 deadline

Pro-Perry group preps for Iowa straw poll Rick Perry still hasn't said whether he's running in 2012, but a pro-Perry group is setting the stage for him in Iowa anyway

Waters wants ethics case against her dropped Democratic Rep. Maxine Waters says she cannot get a fair trial when there are questions of impropriety in the ethics committee

Yahoo meets expectations with mixed results: MarketWatch - Bulletin


By John Letzing

SAN FRANCISCO (MarketWatch) - Yahoo Inc. YHOO -1.99% said Tuesday its second-quarter net income rose to $237 million, or 18 cents a share, from $213 million, or 15 cents a share in the same period last year. The Sunnyvale, Calif.-based Internet media firm said net revenue for the period ended June 30 fell 5% to $1.1 billion. Analysts polled by FactSet Research had expected Yahoo to report second-quarter earnings of 18 cents a share, and $1.1 billion in net revenue.

Stocks surge on tech earnings, deficit hopes: MarketWatch | U.S. Stock Market at Close - Market Pulse

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4%
2%
0%
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IBM DJIA MSFT COMP SPX 

By Laura Mandaro
SAN FRANCISCO (MarketWatch) -- U.S. stocks closed near their highs of the day Tuesday, driving the Dow average to its best performance of the year, after surprisingly strong results and forecast from International Business Machines Corp. IBM -0.15% and progress from U.S. lawmakers on borrowing limits. The Dow Jones Industrial Average DJIA +1.63% added 202.26 points, or 1.6%, to 12,587.42. The price-weighted index was boosted by a $9.93, or 5.7% rise, in IBM's stock. Microsoft Corp. MSFT -0.29% shares jumped 3.6%. Tech stocks also lifted the Nasdaq Composite COMP +2.22% . Its gain of 61.41 points, or 2.2%, to 2,826.52 was its best day since October. The S&P 500 SPX +1.63% ended up 21.29 points, or 1.6%, to 1,326.73.