U.S. stocks end higher, investors cheered by IBM results

Date: Mon, 14 Jan 2008 22:01:04 (GMT)

U.S. stocks end higher, investors cheered by IBM results

U.S. stocks rebounded on Monday, with the Dow industrials' triple-digit
rise triggered by strong results from International Business Machines
Corp., giving an oversold market reason to turn higher.

Cotton nears four-year high as crop plays catch-up to soy, corn

SAN FRANCISCO
Cotton futures rallied 4% Monday before stopping at the maximum
electronic trading gain allowed, as traders bet the textile crop is
poised to follow the heady increases of soybean and corn futures.

IBM shares jump on profit update; questions about tech remain

SAN FRANCISCO
International Business Machines Corp. delivered a surprise Monday,
saying fourth-quarter earnings for the information-technology giant will
easily exceed Wall Street's estimates and touching off a buying spree in
Big Blue shares and across the tech sector.
Citigroup write-offs could reach $24 billion: report

LONDON
Citigroup may write off up to $24 billion over subprime- and
credit-related losses, putting as many as 20,000 jobs at risk, according
to a published report on Monday.

The Ratings Game: Credit Suisse, first time this decade, recommends U.S.
stocks

Credit Suisse strategists, for the first time this decade, recommended
that fund managers buy more U.S. stocks than a world index would
suggest, saying that authorities state-side are likely to be quicker on
the draw than their European counterparts in responding to slowing
economy.