U.S. stocks surge in Election Day rally

Date: Tue, 04 Nov 2008 12:01:24 -0500
U.S. stocks surge in Election Day rally

U.S. stocks rally as millions of Americans cast ballots for the next
president,with investors cheered by the coming clarity of the election
pitting Republican John McCain against Democrat Barack Obama.

U.S. VOTERS LINE UP AT POLLS WITH SURVEYS FAVORING OBAMA

Millions of Americans are casting votes Tuesday morning for the next
president of the United States, with Democrat Barack Obama leading
rival John McCain in every poll.

CURRENCIES: DOLLAR FALLS SHARPLY VS. RIVALS AS RISK APPETITE RETURNS

The dollar and the yen lose ground against most major currencies
Tuesday, slipping as equity markets rise on a further rise in risk
appetite, strategists said.

AUSTRALIA SLASHES CASH RATE TO 5.25%

The Reserve Bank of Australia cut its cash rate by a
larger-than-expected three-quarters of a percentage point Tuesday,
citing the effects of the global slowdown, falling commodity prices
and a likely downturn in domestic spending.

ECB, BANK OF ENGLAND NEXT TO JOIN RATE-CUT PARTY

The Bank of England and the European Central Bank each are expected to
cut rates by a half-point on Thursday -- and possibly more.