The Dow Jones industrial average added 73.00 points, or 0.72 percent, to end at 0,270.47. The Standard & Poor’s 500 Index rose 6.24 points, or 0.57 percent, to 1,093.48. The Nasdaq Composite Index rose 18.86 points, or 0.88 percent, to close 2,167.88. Financial bookmakers expected the leading European stock indexes rise on Monday, extending last week’s gains. In moderate trade the benchmark Nikkei gained 20.87 points to 9,791.18. The Topix lost 0.7 percent to 860.42.

Yesterday, Obama’s administration argued against plans proposed by Chris Dodd, the Senate banking committee chairman, to merge banking regulators into one. From July to September Japan’s gross domestic product (GDP) grew a larger-than-expected 1.2 per cent, as the previous Liberal Democratic administration’s stimulus boosted consumer spending, government data showed today. Up to six companies will try to go public this week, which could be the US’s busiest week of the year for initial public offerings. A record number of US companies beat earnings expectations in the third quarter, however investors were disappointed to learn that a big portion of their profits came from cost-cutting.

Due for release today is the GBP Rightmove House Prices, GBP Rightmove House Prices, USD Advanced Retail Sales, CAD Manufacturing Shipments, USD Retail Sales Ex Auto and Gas.

By Greg Secker

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