US: U.S. stocks rallied in the final 30 minutes of trading, helping the market post its second straight weekly gain, as speculation bond insurer Ambac Financial Group Inc. may be rescued overcame concern bank earnings will falter.
Europe: European stocks fell, trimming their second straight weekly advance, after RWE AG reported its first loss since 2000 and Morgan Stanley cut its profit forecast for Renault SA.
Asia: Asian stocks fell, giving the region's benchmark its seventh weekly drop this year, on renewed concern the U.S. will enter a recession. Toyota Motor Corp., the second-largest carmaker in the U.S. by sales, had its longest losing streak in almost five weeks, and Samsung Electronics Co. declined after a U.S. manufacturing index slumped.
Commodities: Crude oil rose for a second day in New York as Turkey continued its military assault against rebel bases in northern Iraq, OPEC's sixth-largest oil producer. Gold may rise for a second straight week, extending a rally to a record, as higher energy costs boost demand for a hedge against inflation.
Currencies: The dollar traded near a three-week low against the euro on concerns an industry report today will show the housing recession in the U.S. is deepening.
Source: Bloomberg
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