European and Asian stocks extended last week’s rally on Monday and crude oil marched higher after U.S. economic news and stronger-than-expected data from the euro zone spurred expectations for economic recovery.

But an early rally in U.S. stocks faded about midday in New York after Treasuries rose as investors swooped in to take advantage of sharp losses on Friday.

Oil rose to a 10-month high near $75 a barrel and other commodities also surged as optimism that major economies were pulling out of recession drove hopes of rebounding demand. .

Global stocks as measured by MSCI’s all-country world index <.MIWD00000PUS> rose 1.2 percent and was on track for a fifth straight session of gains.

The yen fell while the U.S. dollar slid against commodity currencies, such as the Australian and New Zealand dollars, as investors became more comfortable with riskier trades given the upbeat assessment of the world economy.

“Economic data is in favor of a

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Canon Inc. (CAJ) profitability for the second quarter was well below the consensus estimate of ¥26.7 billion. The company reported revenue of $8,138.3 million (¥793.8 billion) and net income of $160.0 million (¥15.6 billion) or 13 cents per ADR (¥12.64 per diluted share) for the second quarter of 2009, which were much below our estimate of $9,251.1 million (¥880.7 billion) in revenue and net income of $264.1 million (¥25.1 billion) or 21 cents per ADR (¥20.37 per diluted share). While Canon's revenue came in better than the previous quarter, it decreased 28.2% year-over-year, driven by the negative effect of the strong appreciation of the yen against the dollar, coupled with reduced sales volumes due to decreased demand for office equipment, network MFDs and laser beam printers. Sales declined in all segments with the largest fall in the Optical and Other products, which fell 37.2% as sales ...

Japanese stocks jumped, sending the Nikkei 225 Stock Average to a near four-month high.  Key to this optimism includes forecasts from Fujitsu Ltd. and Canon Inc. 

April collectively revealed the DJIA soared 7.4%, the NASDAQ 12.4%, and the S&P 9.4%, pushed higher by a 19.8% rise in financials. On a dollar basis, the gain in Dow Jones shares results into a 12% gain, the record since 1991 when record keeping began.  The S&P also fared well in April, rejoicing in its largest monthly increase in 9 years and now stands 29%higher than its March 9 closing low; the NASDAQ gain proved its best in six. Crude prices soared 18.5% despite record high inventory levels as demand prospects for the second half improved

Nearly 70% of the S&P earnings results reported ahead of analysts' projections. Thursday's mixed market action betrayed disappointment in results from ExxonMobil (NYSE:XOM), downside 2009 guidance from Procter

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a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://4.bp.blogspot.com/_T9VXVyuEITg/SWmtZExgT4I/AAAAAAAAAnU/qUCH6PVlFiM/s1600-h/iphonecrowd.jpg"img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 150px; height: 200px;" src="http://4.bp.blogspot.com/_T9VXVyuEITg/SWmtZExgT4I/AAAAAAAAAnU/qUCH6PVlFiM/s200/iphonecrowd.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5289949883613073282" //a Considering how bad the economy is and in spite of the absence of Steve Jobs, the 2009 Macworld Conference and Expo, held at Moscone Center in San Francisco, California was very successful. This is also in spite of the fact that Apple (AAPL) announced that they wouldn't be back next year. But that isn't the only disappearing act. br /br /There were a couple other major companies that were conspicuous by their absence, such as Adobe (ADBE). Adobe used to be one of the anchor exhibitors at the Expo, and one of the noteworthy producers of Macintosh software. Another MIA was Sony (SNE). Does anyone remember the old Sony beige 3.5 inch floppy disks?br /br /So who was there in place of the biggies? There were approximately 400 exhibitors and ...

Canon Inc. (CAJ) is one of the world's leading makers of office equipment, cameras, and optical products. The company's first nine-month results were hurt by the economic slowdown in the developed countries triggered by a financial crisis, a strong yen appreciation, and weak consumer spending. Moreover, the company reduced its guidance for the full year 2008. We lower our estimates for fiscal 2009 due to the macro economic environment. However, in the light of new product launches scheduled for the remainder of 2008 as well as its cost reduction efforts, we maintain a Hold rating on CAJ shares and slightly raise our six-month price target to $30.Shares of Canon are currently trading at a P/E multiple of 12.3x our estimate for the next four quarter earnings per share, which is at a discount to the peer group mean. The stock is also trading at ...

Japan, the world’s second largest economy, officially entered into a recession in the third quarter, as growth shrank at an annualized rate of 0.4% after posting a second-quarter contraction of 3.7%. Japan’s downturn is worse than many economists had expected and could worsen, as consumers in the United States continue to retrench. “Downside risks to the economy are growing further,” Kaoru Yosano, Japan’s finance minister, told reporters. “Japan is in a very serious situation.” Japan’s domestic economy remains weak with declining wages and rising unemployment. But the greater danger is a sharp drop in exports, especially to the United States. Net exports shaved 0.2% off of growth, as imports outweighed a slight increase in overseas shipments. Exports rose just 0.7% in the third quarter, less than the 1.2% forecast. Meanwhile, imports climbed 1.9%, as the cost of oil spiked in the July-September period....