IBM Forecast Rallies Asian, European Markets

Big Blue's outlook erases some gloom
By Jim O'Neill,  Newser User
Posted Oct 9, 2008 7:29 AM CDT
The curve of the German stock index is reflected in a sign at the stock market in Frankfurt, central Germany, Wednesday, Oct. 8, 2008.   (AP Photo/Michael Probst)
camera-icon View 2 more images

(Newser) – After five straight trading days of losses, investors may have regained a touch of confidence as markets in Asia and Europe bounced back from their beatings today, reports Bloomberg. The rebound, fueled in part by IBM’s reaffirmation of its profit forecast, comes after the worst five-day selloff since 1987. “IBM's numbers show that it's not all doom and gloom out there,” said one expert.