S&P 500 closes above 1,100 for 1st time since Oct 2008

Global M&S

Indian ADRs; Sterlite was up 3.2%. HDFC Bank and MTNL gained 3.3%. However, Satyam and Patni fell over 2%.

Global Metals: BHP Billiton was up 3.8%, Rio Tinto up 5.1%, Vedanta up 2.6%, ArcelorMittal up 4% and ThyssenKrupp up 4.5%.

Mineral companies: Anglo American was up 6.4% and Xstrata up 9.5%.

Global News

US and China failed to reach an agreement over currencies.

Taiwan and China signed agreements to widen access to each other's banks, insurers and brokerages.

Whitney says bank stocks overvalued after recent rally.

Commodities

Reutrs CRB Index was up 3%, best single-session percentage gain in more than one month.

Nymex Crude December futures rose 3.3% to $ 78.9/bbl, gained most in 6 weeks.

Gold was up 2% at $1138.6/ounce and hit a fresh high $1,143/ounce.

Baltic Dry Index was up 2.7%.

Copper rose 4% to $ 6855/tonne, at 13-month high.

Currencies

Dollar Index declined 0.6% to 74.894 and touched a low of 74.67.

Data to watch
-US PPI
-US industrial production
-NAHB housing index
-Geithner speaks
-Earnings from Home Depot, Target