Dow Jones

Oil Prices rose to a 3 month highs in London and New York each market quoting a price over $US 64 and $US 65 respectively because of rising geopolitical tensions in Iran and Nigeria.

New York's main contract, light sweet crude for delivery in February, jumped $US1.46 to $US65.38 per barrel in electronic dealing. It had earlier climbed to $US65.53 - the highest since October 3, 2005.

In London, the price of Brent North Sea crude for March delivery rose US95¢ to $US64.13 per barrel. The February contract had expired on Monday at $US62.93 per barrel.

US stocks bounced back from early losses and ended nearly flat overnight, with the Dow Jones Industrial Average holding above 11,000 as upbeat news from Apple Computer offset weak earnings from Alcoa.

The Dow blue-chip index, which fell more than 50 points in early trade, was off a fractional 0.88 point at 11,011.02 at the closing bell.

On Monday, the benchmark index closed above 11,000 for the first time since June 2001.

The Dow Jones industrial average broke above 11,000 for the first time in 4 1/2 years on Monday, with stocks headed for a fifth straight day of gains as shares of General Motors Corp. and financial companies gained after brokerage upgrades. Dow hitting 11,000 is “psychologically key" for the market. GM shares climbed 5.5 percent to $21.94 on the New York Stock Exchange after one broker raised its rating on GM to "in-line" from "underperform."

Dow Jones Up - Tech Stocks let down by Apple, Boeing Soars on News of $US14.4 billion Qantas Deal: US stocks traded mostly higher overnight, with the main broad-market index touching a four-and-a-half-year high as Wall Street extended a rally on hopes that the recent cycle of interest rate hikes has ended.

The Dow Jones Industrial Average advanced 0.56 per cent, or 61.15 points, to 10,884.87, but the tech-heavy Nasdaq composite fell 0.10 per cent, or 2.34 points, to 2,262.66 at the closing bell.