TOP STORIES 
 
U.S. STOCKS SURGE AFTER BOJ EASES POLICY 

Stocks rallied, with the Dow industrials hitting an intraday record high, spurred by the Bank of Japan's decision to unexpectedly expand its stimulus measures. The DJIA was up about 130 points.

 
EXXON POSTS HIGHER EARNINGS 
 

Exxon Mobil's 3Q earnings rose 2.5% to $8.07 billion, or $1.89 a share, on revenue of $107.5 billion, as higher refining margins and improvements at refining and marketing segment helped offset lower production. Results topped estimates.

 
U.S. CONSUMER SPENDING DROPS 
 

Personal spending fell 0.2% from August, down for the first time since January, raising doubts about the economy's ability to maintain the summer's sturdy growth. Economists had predicted a 0.1% rise.

 
BOJ UNEXPECTEDLY EASES POLICY 
 

The Bank of Japan took financial markets by surprise, ratcheting up its already aggressive campaign against deflation by expanding its yearly asset purchases by tens of trillion yen, as Prime Minister Shinzo Abe's growth-revival plan teeters on the verge of faltering.

 
U.S. EMPLOYMENT COSTS UP 0.7% 
 

U.S. employers' labor costs picked up for the second straight quarter, a sign that worker pay could finally break out of its postrecession pattern of sluggish growth.

 
STRONG DOLLAR SENDS OIL BELOW $80 A BARREL 
 

U.S. oil prices slid below the psychologically key $80 a barrel mark after the Bank of Japan unexpectedly expanded its stimulus measures, boosting the dollar.

 
CHEVRON PROFIT UP ON REFINING STRENGTH 
 

Chevron said asset sales and favorable foreign currency effects helped drive a 13% increase in profit for its third quarter, topping Wall Street expectations, despite declining crude oil prices and lower production.

 
SONY POSTS HEFTY LOSS 
 

Booming sales of Sony's PlayStation 4 videogame console and of camera sensors for smartphones offset weakness in the company's own mobile division, resulting in a less-than-expected net loss of $1.22 billion for the summer quarter.

 
DOLLAR GENERAL EXTENDS FAMILY DOLLAR TENDER OFFER 
 

Dollar General said it is extending its $80-a-share tender offer to buy Family Dollar Stores by two months until Dec. 31, as the offer remained well undersubscribed.

 
EUROZONE INFLATION PICKED UP IN OCTOBER 
 

The annual rate of inflation in the eurozone picked up slightly in October, but marked its 13th straight month at less than half the rate targeted by the European Central Bank.

 
CANADA'S ECONOMY SHRINKS UNEXPECTEDLY 
 

The Canadian economy shrank unexpectedly in August for the first time since the end of last year, dragged by lower energy and manufacturing output. Monthly GDP was down 0.1% in August.

 
 
 
 
  ======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES ======= 
 
 
Heard on the Street 
INFLATION DEFLATES CHANCES OF ECB ACTION 
 

Eurozone inflation rose to 0.4% in October from 0.3% in September. The rise is tiny, and inflation is still far from the ECB's target of below, but close to 2%. But it may be significant nonetheless.

 
Analysis 
POURING POLITICAL OIL ON TROUBLED BUREAUCRACY 
 

Bureaucrats here turned the European Union into an object of ridicule last year by nearly banning refillable olive-oil containers in restaurants across the 28-nation bloc.