AIG led decliners in the index with a loss of 3.5% to $46.54 followed by losses in Bank of America of 2.46% to $37.61, in Caterpillar of 2.29% to $83.33 and in Pfizer of 1.3% to $20.20.

Of the stocks in S&P 500 index, 193 stocks increased, 303 declined, and 4 were unchanged. Of the stocks in the index, 28 stocks fell more than 3% and 24 gained more than 3%.

National City Corp led decliners in the S&P 500 index with a loss of 27.6% followed by losses in First Horizon of 9.4%, in Sovereign Bancorp of 9.2%, in Mattel of 8.2%, in Fifth and Third Banc of 7.5%. Sears Holdings fell 6.9% after Bank of America cut its credit line extension.

Hasbro led gainers in the index with a rise of 9.8% followed by gains in Quest Diagnostic of 7.6%, in CB Richard Ellis of 7.5% and in Hess Corp of 6.9%.

South American Markets Indexes

Mexico led gainers in the South American trading with a rise of 0.94% followed by increases in Chile of 0.81%, in Argentina of 0.69%, and in Brazil of 0.57%. Peru edged 0.03% higher and Venezuela declined 1.90%.

Asian Markets

In Tokyo Nikkei 225 Index closed higher 220.10 or 1.63% to 13,696.55, in Hong Kong Hang Seng index increased 523.89 or 2.17% closed to 24,721.67.

Better than expected earnings from NEC lifted tech stocks and weaker yen against the dollar also helped exporter to rise. Honda led the gainers in the Nikkei 225 index.

In Australia ASX 200 index higher 170.60 or 3.14% to close 5,600.30. In Malaysia KL Composite index increased 12.35 or 0.97% closed to 1,280.00.

In South Korea Kospi Index increased 28.58 or 1.61% to close at 1,800.48, in Thailand SET index closed lower 3.42 or 0.40% to 841.98 and Indonesia JSE Index edged decreased 13.38 or 0.57% to 2,335.89.


Commodities, Metals, and Currencies

Crude oil increased $0.87 to close at $117.56 a barrel for a front month contract, natural gas increased 12 cent to $10.71 per mBtu, and gasoline futures decreased 64 cents to close at 297.24 cents per gallon.

Gold increased $2.40 in New York trading to close at $917.60 per ounce, silver closed down $0.46 cents to $17.36 per ounce, and copper for front month delivery decreased 2.60 cents to $3.866 per pound.

Wheat futures decreased 25.5 cents in Chicago trading and closed at $8.59 per bushel. Sugar decreased 70 cent to $12.59 per pound. Soybean future closed down 46.00 cents to $13.30 a bushel.

Dollar edged lower and traded near a record low against euro to $1.5924 and edged higher against yen to 103.16.

Yields on U.S. bonds increased to 3.71% with 10 years of maturities and decreased 4.47% with 30-year of maturities.