BP - OIL DISASTER

 We're now two months removed from the offshore-drilling disaster in the Gulf of Mexico that killed 11 people, sent the Deepwater Horizon to the bottom of the sea, set millions of gallons of crude flowing into the water and cratered the stock price of one of the world's biggest petroleum companies, BP (NYSE: BP - News).
Since April 20, we've learned a few things, none of them good.
Here's a recap: Halting thousands of gallons of fossil fuels from spewing every day out of a busted pipe 5,000 feet below the ocean surface is extremely difficult; politicians still love to hear themselves talk; executives from giant corporations still don't particularly like contrition; and an outcome in which everybody can walk away and claim victory appears less and less likely.
Everybody's mad, and they all have their own reasons to be. President Obama's mad, members of Congress are mad, BP shareholders are mad. Officials at BP, Transocean (NYSE: RIG - News) and Halliburton (NYSE: HAL - News) aren't happy -- who wants to be portrayed as a bunch of villains in papers around the globe, over and over again?
Workers and residents in the Gulf are panicking about their economy and way of life. Alternative-energy advocates are in we-told-you-so mode, and environmental activists are apoplectic. Let's face it, even people who aren't especially green-minded don't tend to revel in images of oil-coated pelicans and widespread wildlife kills.
Oil, Oil Everywhere
It's not breaking news to say the situation is bad in the Gulf. We still hear about the Exxon Valdez 21 years after the oil tanker ruptured off the coast of Alaska. By many accounts, the Deepwater Horizon has the potential to be significantly worse than what happened in Prince William Sound in 1989, if for no other reason than the amount of oil that's now escaped into the ocean. The ultimate effects won't be known for months certainly, and for years perhaps.
While it's hard to say this week saw much improvement on containing the crisis, it did produce a number of notable images and comments from the main players, some of which appear in the accompanying video.
The short version of events is that the president visited the South to assess the situation and look for progress, but his speech that followed the trip wasn't particularly well-received. Meanwhile, BP set plans to suspend its dividend and establish a $20 billion fund to offset the costs of dealing with the cleanup and its consequences, and Tony Hayward, the oil company's CEO, appeared before lawmakers in Washington to, let's be generous, "answer" questions.
Analysts and commentators continued to fight about whether this is a good time or a bad time to buy BP's shares, whether the company will remain viable or whether it will require some type of merger or savior to keep its assets drilling and producing. If you're an investor, you already know you'll find passionate arguments on both sides of the issue regarding what to do with your money.
Since most of us aren't petroleum engineers -- ever heard of a blowout preventer until about eight weeks ago? -- we can't do much more than watch and wait, and hope that the experts will get the leak stopped.
Having to rely on hope in the absence of all else is never an enviable position. But sometimes, that's all you've got.

US MARKET ON FRIDAY

  -- Here's something for investors beaten down by the market's sharp declines this spring: The Dow Jones industrial average just had its best two weeks since November.
The Dow's gain of 16 points on Friday was relatively modest, but it capped a surge of 5.2 percent over the past two weeks that puts the average nearly halfway back to the high for the year that it reached on April 26.
Stocks had a longer winning streak earlier this year, an eight-week stretch that ended in late April, but those gains were more gradual. Then a sharp drop in May and early June brought the Dow down as much as 12.4 percent below its 2010 high, a decline that market analysts call a "correction."
The debate now is focusing on whether that correction phase is over. A correction is generally considered a drop of 10-20 percent from a recent peak. The Dow has risen back 6.5 percent from its lowest close of the year on June 7, but it's still down 6.7 percent from its 2010 high.
"I don't know that we're totally through the correction," said Stu Schweitzer, global markets strategist at JPMorgan's Private Bank in New York. "I do expect markets to remain quite volatile all through the rest of this year, but I still expect that we're going to end the year higher."
Minerals companies led other shares higher after gold settled at another record high. Barrick Gold Corp. jumped 3.5 percent, while Newmont Mining Corp. rose 2.6 percent.
Corporate news also brought out buyers. CVS Caremark Corp. rose 1.9 percent and Walgreen Co. rose 2.8 percent after the two companies settled a dispute over pharmacy prescriptions that had threatened to hurt profits. Dow component Caterpillar Inc. gained 1.4 percent after reporting sharply higher sales.
The Dow rose 16.47, or 0.2 percent, to close at 10,450.64. The broader Standard & Poor's 500 index rose 1.47, or 0.1 percent, to 1,117.51. The Nasdaq composite index edged up 2.64, or 0.1 percent, to 2,309.80.
All three indicators posted solid gains for the week. The Dow is up 2.3 percent, the S&P 500 2.4 percent and the Nasdaq 3 percent.
The Dow posted its second consecutive weekly gain of more than 2 percent. Before that, the Dow had been down for three weeks. The last time the Dow had a two-week stretch of gains that strong was in November 2009.
Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares, versus 4.6 billion the day before. Volume was heavier because of the simultaneous expiration of four kinds of futures and options contracts, which occurs once every quarter.
Trading was relatively quiet considering the options and futures expirations, which can often bring volatility as traders adjust their portfolios. The week that follows the June expiration is often a losing one for investors. The Dow has posted a loss during that week for the past 11 years, according to the Stock Trader's Almanac.
Bond prices slipped, pushing interest rates higher. The yield on the benchmark 10-year Treasury note rose to 3.23 percent from 3.20 percent late Thursday.
The dollar edged lower against the British pound and Japanese yen, while the euro edged down versus the dollar. The euro has regained strength over the past week amid encouraging signs in Europe's efforts to control its debt crisis. Spain had successful bond sales this week, and European leaders pledged to disclose the results of stress tests on banks.
Crude oil rose 39 cents to settle at $77.18 per barrel on the New York Mercantile Exchange.
Randy Frederick, director of trading and derivatives at Charles Schwab, said the market's bounce from its recent lows has come too quickly. He said professional traders are building up positions in investments that would cushion their losses if the market fell again.
"Not that we're going into this big ugly bear market but to go back down to the lows that we were at just a few weeks ago, I think, seems very possible based on what I see," Frederick said. "I see a reason to be a little cautious right now."
The coming week brings readings on home sales and consumer sentiment. The Federal Reserve also will meet on interest rates.
Gold settled up $1,258.30 an ounce, a gain of $9.60. Barrick Gold rose $1.56, or 3.5 percent, to $46.38, and Newmont Mining climbed $1.57, or 2.6 percent, to $61.25.
CVS rose 59 cents to $32.43, while Walgreen gained 82 cents to $30.09. Caterpillar gained 90 cents to close at $65.85.
The Russell 2000 index of smaller companies rose 1.07, or 0.2 percent, to 666.92.

TODAY STOCKS

 Stock futures pointed to a modestly lower open Friday ahead of the expiration of options contracts.
The drop in stock futures came a day after the market erased its losses to end higher. The Dow Jones industrial average ended with a gain of 25 points and has risen five of the past six days.
With little economic and corporate news expected, trading could be choppy because of the occurrence of a quarterly "quadruple witching," which marks the simultaneous expiration of four kinds of options and futures contracts.
Europe drew attention after leaders said they would publish results of so-called bank stress tests, which are designed to evaluate the financial stability of banks. Investors have been concerned about European banks for months because of high debts in weak European Union countries like Greece.
The International Monetary Fund, the European Union and the European Central Bank said Greece was making the necessary cuts to reduce its deficit. The moves are required under an emergency loan package aimed at keeping the country from defaulting on its debt.
European stock markets were mixed.
Dow Jones industrial average futures fell 21, or 0.2 percent, to 10,355. Standard & Poor's 500 index futures fell 2.50, or 0.2 percent, to 1,109.20, while Nasdaq 100 index futures dropped 1.75, or 0.1 percent, to 1,907.75.
Bond prices rose, pushing down interest rates. The yield on the benchmark 10-year Treasury note fell to 3.19 percent from 3.20 percent late Thursday.
The dollar rose against other major currencies, while gold prices fell. The euro slipped to $1.2368.
Crude oil fell $1.13 to $75.66 per barrel in electronic trading on the New York Mercantile Exchange.
In afternoon trading, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.5 percent. Earlier, Japan's Nikkei stock average slipped less than 0.1 percent.

DOUBLE DIP RECESSION

I hope you are aware of WHAT IS DOUBLE DIP RECESSION? . Double Dip recession is the recession happening two times with the small gap in between. Most of the analysts, predicts that there is possibility of the double dip recession in 2010 0r 2011. After the 2008 recession, there is no significant recovery in the developed countries like USA,UK, etc. The situation in the Europe is worst compare to other countries. You can read the problem happened in Greece.
     The above factors may derail the economic recovery and dive into another Recession. There is severe blow on the stock market across the globe. Small Investor to stay away from the market to avoid any loss. There will be more downturn in the next couple of months.
     It is very difficult to predict the exact impact of the Europe problem in world market. Reportedly China too in the housing market Bubble. All these factors will dampen the investors party.

HAPPY FRIDAY - 18.06.2010

TODAY HOT BUYING STOCKS
 RIL
MTNL
ICICI BANK

NIFTY LEVEL 5280 - 5300 - 5330 RESISTANCE
SUPPORT 5250 - 5202 - 5180 - 5150

9.35 AM : OUR NIFTY AND GLOBAL DEFENDING WITH EUROPE MARKET

GREECE,HUNGERY,IRELAND AND SPAIN ALSO CRITICAL POSITION FINANCIALLY

EUROPE MARKET WILL DOWN ,GLOBALLY DOWN POSIBLE

ALREADY EURO WEAK

10:14 AM : Buy MTNL Target 65-66.50

10.20 AM : THIS RALLY IS NOT GOOD

CONTINUESELY NIFTY EIGHTH DAY UP

HANGING ON FOR A DEAR LIFE

  Futures for the S&P 500 are off of their highs, but they still point to a positive start for this session. Meanwhile, Europe's major bourses have given up a chunk of their recent gains. In turn, Germany's DAX now trades with a 0.3% gain. Consumer goods (+1.7%) are the best performers as Daimler (DAI) rebounds from a weak performance in the prior session. Volkswagen is also performing well. In France, the CAC is up 0.4%. Energy giant Total (TOT) is a primary source of strength there. BP Plc (BP) has spiked to help Britain's FTSE to a 0.6% gain. Oil and gas oil stocks are up 1.9%, collectively. In Asia, Japan's Nikkei fell to a 0.7% loss as its declining issues outnumbered advancers by 4-to-1. Kyocera (KYO) was among the heaviest drags on trade. In mainland China, the Shanghai Composite closed 0.4% lower as its declining issues outnumbered its advancers by 2-to-1. China Petroleum (SNP) pulled down action and offset strength among bank stocks like Industrial & Commercial Bank, Bank of China, China Merchants Bank, and China Citic Bank. However, Industrial & Commercial Bank was a laggard on Hong Kong's Hang Seng. Still, the Hang Seng was able to stage a 0.4% gain amid leadership from oil and gas giant CNOOC (CEO).

HAPPY THURSDAY - 17.06.2010

 TODAY INTRADAY TIPS
M&M BUY AT 630 TARGET 640
L&T BUY AT 1722 TARGET 1742
ICICI BANK BUY AT 877 TARGET 884

9.06 AM : NIFTY OPEN WITH FLAT

TODAY NIFTY LEVEL 5230 - 5255

SUPPORT 5202 - 5180 - 5150 - 5130

9.12 AM : NIFTY UP TO AFTERNOON FLAT TRADING

9.13 AM : M&M TARGET ACHIEVED

ICICI AND L&T DONT BUY

MARKET WEAK

11.30 am : RELIANCE ONLY HOLD THE MARKET

11.33 AM : SBIN SUPPORT 2330 - 2314 - 2309

SESAGOA 348 - 345 - 338

11.49 am : I WAS GAVE ICICI MY TARGET  884 NOW ICICI 887

BOOK PROFIT

L&T ALSO ROCKING AND NEAR THE TARGET 1742

11.55 AM : L&T TARGET 1742 ACHIEVED

BOOK PROFIT

12.01 PM: MARKET TRY TO MOVE UP,BUT FINAL RESISTANCE NIFTY 5255

12.02 PM : L&T ROCKING 1748

12.14 PM:Troubled banking system, Spain loom over EU summit

Looming bank losses and Spain's troubled government finances are what European Union leaders don't formally plan to talk about when they sit down for talks on Thursday about how to fix their battered economies and set tighter budget rules.The potential for banks' losses on European loans -- particularly from Spain's collapsed housing boom -- have spooked financial markets this week, sending the Spanish government's borrowing costs to a record-high amid rumors that it might have to ask for outside financial help.

12.17 PM:Toyota is latest car maker hit by strike in China

 

12.20 PM:Asian stocks mixed after flat Wall Street finish

Asian stocks were mixed Thursday amid mild profit-taking in Tokyo and a muted finish on Wall Street as investors absorbed bad news about Europe's debt problems and the U.S. economy.

Stock markets across the region hovered in a narrow range as investors found little reason to drive the market in a definitive direction. Worries about Spain's debt problems and weaker-than-expected U.S. housing data weighed on sentiment, while Chinese shares advanced after a three-day holiday.
Oil prices, meanwhile, fell below $77 a barrel as investor confidence wanes that a three-week rally will continue amid signs of weak U.S. crude demand. The dollar fell against the yen and gained versus the euro.
Japan's Nikkei 225 stock average slipped 64.75 points, or 0.6 percent, to 10,003.35 as investors moved to lock in gains from Wednesday's 1.8 percent jump, when the index finished above the key 10,000 level for the first time in almost a month.

12.25 PM : MARKET WAIT FOR EUROPE FALL 

12.44 pm : EUROPE OPEN WITH RED 

12.45 PM: TRADERS ALERT EXIT FROM ALL LONG 

12.47 PM : NIFTY HURDLE 5202 - 5180 - 5150 - 5130 

12.49 PM : TRADERS LOOK ICICI BANK AND SBIN DOWN 

12.52 PM : TRADERS ALERT ALERT 

12.57PM : TRADERS TRADE CAREFULLY,MAINTAIN STOPLOSS
ANY BAD NEWS,OUR MARKET ALSO DOWN

1.02 PM:Lending by small banks is focus of bill in House

House Democrats are looking to increase lending by small banks as a way to resuscitate their election-year jobs agenda.A bill creating a $30 billion fund for community banks to increase lending to small businesses is up for a possible vote in the House on Thursday.
Congressional Democrats started the year with an aggressive agenda of passing a series of bills designed to create jobs. Many of the proposals stalled as lawmakers, after hearing from angry voters, became wary of adding to the national debt.
On Wednesday, the Senate rejected a $140 billion bill that would renew pieces of last year's economic stimulus bill.
Governors complain that without additional aid, hundreds of thousands of public employees will be laid off.

1.06 PM: L&T ROCKING

2.22 PM: NIFTY 5270 RESISTANCE

2.48 PM : LAST WEEK I GAVE DELIVERY CALL TATA MOTORS 800+

TARGET ACHIEVED, BOOK PROFIT

2.53 PM : NIFTY NEAR THE 5290 HIGH

EUROPE WILL BOOT OUR MARKET THIS LEVEL

3.03 PM : NIFTY IN HIGHER LEVEL

BUT SBIN AND SESAGOA BOTH ARE IN DOWN TREND

Wall Street falls on data, FedEx, Spain fears

 Stocks slipped at the open on Wednesday as FedEx (NYSE:FDX - News) warned about higher costs, housing starts fell to a five-month low and new concerns surfaced over Spain's fiscal problems.
* The Dow Jones industrial average (DJI:^DJI - News) fell 63.63 points, or 0.61 percent, to 10,341.14. The Standard & Poor's 500 Index (^SPX - News) lost 7.14 points, or 0.64 percent, to 1,108.09. The Nasdaq Composite Index (Nasdaq:^IXIC - News) was off 13.88 points, or 0.60 percent, to 2,292.00.

     -- FedEx on Wednesday offered a conservative outlook for its new fiscal year even as strong exports from Asia led to healthy fourth-quarter results.
The forecast for earnings of $4.40 to $5 per share, falls short of analysts' predictions of $5.05 per share. But it's the first time the company has issued a full-year forecast since before the recession, indicating growing confidence in the long-term recovery in global trade.
The outlook also reflects expected higher costs as shipping volume picks up.
In a conference call with analysts, CEO Fred Smith said international growth is especially strong in India, China and Brazil. Smith said the company sees growth in those three fast-paced economies picking up steam over the next year -- a trend he believes has been understated recently in economic forecasts.
"In my mind that very large trend of the emergence of these middle classes in India and China and Brazil that are now integrated into global trade is something that's pretty profound," he said. "People have an undue sense of pessimism relative to what's actually happening out there in my opinion."
The Memphis, Tenn., company expects to earn 85 cents to $1.05 per share for the quarter ending in August. Analysts expect $1.03 per share.
Shares fell 2.7 percent in morning trading, down $2.23 to $80.78. The company has in recent quarters issued modest forecasts for future results.
In the quarter ended in May, FedEx earned $419 million, or $1.33 per share. It lost $876 million, or $2.82 per share a year earlier. Excluding a writedown on the value of assets and aircraft, earnings were 64 cents per share a year ago.
Revenue climbed 20 percent to $9.43 billion.
FedEx said international express shipments jumped and its Ground division improved. But its freight unit lost money and employee costs rose as it reinstated some compensation programs.

HAPPPY WEDNESDAY - 16.06.2010

TODAY INTRADAY HOT BUYING STOCKS

ICICI BANK
HDFC BANK
TCS
TATA MOTORS
ONGC

RISKY TRADERS ONLY HOLD YOUR PUT AND SHORT

OTHER TRADERS EXIT FROM PUT AND SHORT

nifty HURDLE 5230 - 5250 - 5280 ( STRONG RESISTANCE)

NIFTY SUPPORT 5150 THIS LEVEL BROKEN GOOD FOR BEAR

9.10 AM : LAST TWO DAYS LOT OF PUT AND SHORTERS EXIT FROM THIS

9.11 AM : TATA MOTORS ZOOOM

9.12 AM : SESAGOA AND SBIN STRUGGLE

9.13 AM : TATA MOTORS TODAY 800+ POSSIBLE

9.20 AM: TODAY NIFTY IMPORTANT LEVEL 5255

9.24 AM : elliot wave analyst "MAJOR BEAR MARKET BOTTOM WILL BE BETWEEN MAY-JUN 2016,TARGET FOR NIFTY AT THAT TIME WILL BE 1295,POSSIBLE OUTLOOK FOR 2010-FROM LOW OF 4786 NIFTY WILL RALLY TO 5255 (GET OUT OF ALL YOUR LONGS)FROM 5255 WE WILL SEE WORST BEAR MARKET SLIDE TO 4262,THEN A RALLY TO 4642,THEN A SLIDE TO 4027 WHERE A INTERMEDIATE BOTTOM WILL BE FORMED (REMEMBER ME WHEN ALL LEVELS UNFOLD) "
      .................. this given on 30.5.2010

9.32 AM : ALERT MARKET COME DOWN, EXIT FROM LONG AND BUYING

11.48 am : TODAY UP TO AFTERNOON FLAT TRADING

TRADE SWING TRADING

3.08 PM: MARKET TRADE WITH FLAT

OUR MARKET WAITING FOR EUROPE FALLING

3.30 PM : WHOLE DAY MARKET TRADE WITH FLAT

BUT OUR RECOMMEDATION TATAMOTORS,HDFC,ICICI,TCS ALL ARE ROCKING

3.31PM : OK BYE

WE WILL MEET TOMMOROW AT 8.45 AM

HAPPY TUESDAY - 15.06.2010

TODAY HOT BUYING STOCKS

M&M

NIFTY 5230 - RESISTANCE

5180 - 5150 - 5130 SUPPORT

NIFTY CONSTRUCT BY SOME MAGICAL BRICKS

IT WILL BREAK ANY TIME, SOME NEGATIVE NEWS

9.22 AM : TODAY AFTERNOON WILL EXPECT SOME PROFIT BOOKING

11.35 am : PROFIT BOOKING

11.38 AM : NIFTY BELOW 5150,GOOD FOR BEAR

11.41 AM : SBIN BELOW 2327 , GOOD FOR BEAR

11.42 AM :SESAGOA BELOW 350 , GOOD FOR BEAR

12:19 PM : Both SBIN and SESAGOA below key resistance

12:35 PM: Both CAC and BEL 0.66% down.

1.55 pm : OUR MARKET TRADING WITH LIKE EUROPE MARKET

2.01 PM : RNRL 11% UP RS.68

ANIL AMBANI GROUP CO. TAKE THE MARKET UP YESTERDAY AND TODAY ALSO

3.26 pm : global market cues and our ambani's group lead our market to high, but it is not constant

bye , bye

HAPPY MONDAY - 14.06.2010

 8.50 AM : TODAY HOT BUYING STOCKS

BHARTI AIRTEL BUY AT 274 TARGET 280

RIL BUY AT 1046 TARGET 1055

L&T BUY AT 1677 TARGET 1686 - B1690

TODAY NIFTY GAP UP OPEN

NIFTY HURDLE  -  5130 - 5144 - 5180

SUPPORT 5102 - 5080 - 5050 - 5030

AFTERNOON NIFTY WILL DOWN

9.02 AM : SESA GOA AND SBIN COME DOWN, DONT WORRY

TODAY SOME CORRECTION POSSIBLE

9.07 AM : EXIT FROM BHARTI AIRTEL

TRADERS ALERT SOME DOWN POSSIBLE

9.54 AM : UP TO AFTERNOON FLAT TRADING ONLY

NIFTY STRONG RESISTANCE 5180

10.21 am : L&T 1690 TARGET ACHIEVED

RIL  1055 TARGET ACHIEVED

10.23 AM : SESA GOA NEXT SUPPORT 350 - 346

SBIN BELOW 2339 GOOD FOR BEAR

10.27 AM : SESAGOA NEW LOW

10.35 AM : NIFTY BELOW 5150 LEVEL GOOD FOR BEAR

10.39 AM : NIFTY TRADE UP WITH OUT VOLUME

10.47 AM : NIFTY 5158 - 5138

11.34 am : TODAY IT STOCKS HIT THE ROOF

11.41 AM : SBIN DOWN SHORTERS ALERT AND WATCH CAREFULLY

12.11 PM : SBIN DOWN DOWN, NEW LOW

12.40 PM: MARKET WAIT FOR EUROPE UPDATE

12.48 PM : NIFTY DOWN DOWN

12.51 PM : EUROPE OPEN WITH GREEN

01:18 PM : NIFTY STARTED DOWN

01.25 PM: SBIN SHORTERS KEEP WATCH SBIN

01.42 PM : NIFTY HURDLE 5150 LEVEL

2.20 PM :Key European indices are up ahead of the Eurozone Industrial Production data for April due today at 2:30 pm (Indian Time).

2.21 PM : LAST WEEK I WAS GAVE DELIVERY CALL RNRL TARGET 60 - 65

NOW 57,RNRL 9% UP TODAY

2.23 PM : NIFTY BLAST 5180

2.25 PM : HOLD SESAGOA 340 PUT

2.31 PM : RISKY TRADERS AVERAGE 5100 PUT AT RS.38

2.43 PM : NIFTY 5195 - 5202 HURDLE

2.45 PM : RISKY TRADERS AVERAGE 5100 PUT AT RS.38

3.06 PM RNRL 17% UP 61

3.08 PM : SBIN AND SESAGOA BOTH ARE WEAK

3.15 PM : Asian stocks rose for a third straight session Monday as improved U.S. consumer confidence, a weaker Japanese yen and easing worries over Europe's debt crisis buoyed investor sentiment.Shares were also headed higher in Europe and indications were for further gains on Wall Street. The FTSE 100 index of leading British shares was up 19.93 points or 0.3 percent to 5,183.07. Germany's DAX rose 0.9 percent to 6,100.54, and France's CAC-40 was up 0.9 percent to 3,588.52. Dow Jones industrial average futures were up 62 points to 10,259. Standard & Poor's 500 index futures rose 5.4 points to 1,089.20.
Oil rose above $75 a barrel, reflecting the upbeat market mood. The dollar strengthened against the yen, while the euro was up against the dollar, regaining some of the ground lost over the past week. The single currency hit a four-year low early last week amid fears the sovereign debt crisis in Europe could slow the global recovery.
Japan's benchmark Nikkei 225 stock average gained 174.60 points, or 1.8 percent, to close at 9,879.85. Investors chased gains in Japanese exporters on an easing yen as a weaker currency lifts the value of their repatriated profits and can make their goods more price competitive .
South Korea's Kospi index added 0.9 percent to 1,690.60. Australia's stock market was closed Monday for a public holiday.
Hong Kong's Hang Seng edged up 0.9 percent to 20,051.91. Shanghai's stock market was also closed Monday, while shares in Taiwan rose 1.2 percent.
Investors took heart from a private report Friday that showed U.S. consumer confidence in June climbed to its strongest level since January 2008. The Reuters/University of Michigan consumer sentiment index showed that confidence grew to 75.5 -- coming in well ahead of forecasts.
That boosted confidence -- as did robust Chinese exports and actions by Spain to cope with a heavy deficit, said Francis Lun, general manager at Fulbright Securities.
A delegation from the International Monetary Fund and the European Union was in Athens on Monday to review Greece's efforts to pull out of its debt crisis. The country is under strict supervision as part of the terms of a euro110 billion ($130 billion) package of rescue loans from the IMF and other EU countries using the euro.
"Europe is getting its house in order," Lun said. "We haven't seen a further deterioration there."
Recent gyrations in world markets have been largely due to the debt crisis in Europe, said Tey Tze Ming, market strategist for Saxo Capital Markets in Singapore.
"I think it will blow past. At the end of they day, U.S. growth is back on track. Asia is growing well; most Southeast Asian countries beat their growth estimates," he said.
In New York on Friday, the Dow Jones industrial average rose 38.54 points, or 0.4 percent, to 10,211.07.
In currencies, the dollar rose to 91.87 yen in Tokyo on Monday from 91.77 yen in New York late Friday. The euro climbed to $1.2176 from $1.2125.
Benchmark crude for July delivery was up $1.33 to $75.11 a barrel in electronic trading on the New York Mercantile Exchange. The contract dropped $1.70 to settle at $73.78 on Friday.

3.32 PM : OK BYE
SHORTERS DONT AFRAID, NIFTY WILL COME DOWN