Crude oil was little changed as the dollar rose against the euro for an eighth day and Hurricane Ike moved toward the Gulf of Mexico.

The U.S. currency strengthened to the highest since October 2007 as the government’s takeover of Fannie Mae and Freddie Mac encouraged investors to move funds into the stock market. A rising dollar curbs the appeal of commodities as an inflation hedge. Oil rose as high as $109.89 a barrel earlier on forecasts that Hurricane Ike will enter the Gulf and threaten oil rigs. [Read more]

Ise-30 contracts traded at Turkdex (VOB) surged above 51600 today breaking the critical 51000. Mood was highly affected by the positive sentiment in international markets. Contract finished the day 4,14% higher.

Turkish stocks have seen a cheerful day amid the positive sentiment created by US treasury’s plans on Fannie and Freddie. Financial stocks lead the increase with Garanti raising 6,45% closing at 3,96 and Akbank soaring 8,33% closing at 6,50. [Read more]

Financial-sector shares rallied strongly Monday, reacting to the U.S. government taking control of Fannie Mae and Freddie Mac over the weekend, ending months of speculation about the future of the mortgage giants and reassuring investors that they will not be allowed to fail.

Just after the opening bell, the Dow Jones Industrial Average was up almost 336 points, or 3%%, at 11555.84, erasing all of last week’s decline and then some. The Nasdaq Composite Index was up 2%, trading just above 2300. The S&P 500 was up 2.1% at 1268.53, led by a nearly 7% rise in its financial sector.

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Oil rose from a five-month low as Hurricane Ike swept across Cuba, delaying the resumption of crude production in the Gulf of Mexico.

Crude oil for October delivery rose as much as $2.89, or 2.7 percent, to $109.12 a barrel in electronic trading on the New York Mercantile Exchange.

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ISE-30 future contracts traded at Turkdex(VOB) are up 3,33% trading at 51,200-225. Contract started the day with a huge gap opening at 51,000 adding almost 1500 points from previous close.

After the opening, contract is traded within a thin range of 51,100-51,400 trying to find a direction.

Usd contracts traded at VOB are lower, trading around 1,2470 down 1,38%. The intraday charts shows that there ise a declining trend in the short term, however, dolar-euro prices are closely watched.

Like all the markets, Turkish stocks are having their own share of the joy today. Investors reacting highly positive to the seizure of the mortgage giants Fannie and Freddie, are buying Turkish stocks. [Read more]

US futures surged amid news of the bail-out of Fannie mae and Freddie mac. Reacting to the Sunday’s news, futures opened higher with gains more than 1,5% each.

Now S&P futures are trading at 1275 levels up around 2,8% and Dow Futures are trading around 11400 up 2,19%.

European shares surged at the start on Monday, with financials and commodity stocks shooting higher, after the U.S. government bailed out home mortgage giants Fannie Mae and Freddie Mac. [Read more]

Crude-oil futures on Friday closed below $107 a barrel, with crude closing at $10.23 a barrel on the New York Mercantile Exchange. With the stock market watching the price of crude more carefully in recent months, Tuesday’s OPEC meeting should be a focus on coming days, with many market participants expecting the cartel to curb production. [Read more]