World markets respond

CNNMoney.com is reporting this hour that global stocks traded higher and U.S. futures rose on tonight as Democratic presidential candidate Barack Obama was named the projected winner.

The Web site reported that the Nikkei, the major index for the Tokyo Stock Exchange, rose 2.8 percent in early trading, the Hang Seng index in Hong Kong surged almost 6 percent at its open and the Australian All Ordinaries index was up nearly 2 percent.

CNN projected Obama the winner over McCain in the electoral college by 11 p.m.