Who would believe Ford is profitable

• US Institute of Supply Management: index of national factory activity 55.7 (oct) from 52.6 (sept); clear sign of improving economy. Caveat: too much improvement, Fed will raise rates
• Ford: posted net profit, primary as a result of 'cash for clunkers'
• Oil: previously 2 benchmarks: Brent (Europe) and West Texas Intermediate (US). Saudi Arabia to now price in terms of Argus Sour Crude Index (Gulf of Mexico).
• Most profitable commodities businesses: GS, MS, Barclays. RBS following UBS, Lehman, Bear Stearns in getting rid of commodities division.
• ChiNext: market debut, all 28 stocks gained 76-210%, fell 10% soon after as they reached daily down-limits
• Australia and Norway have already rasied rates; market sentiment shows that investors are bracing for a rate increase as well, although well into the future
• Middle East construction begins again - people willing to trade in double digit profit margins for longer term stability