Brazil—Brazil's stocks are up early in light trading on solid domestic economic data. Jumps in Asia and Europe helped, too. Brazil's Ibovespa stock index was up 1.3 percent at 38,051 an hour into trading. The country's currency -- the real -- held steady at 2.3 to the U.S. dollar. Brazil ended 2008 with foreign currency reserves of $207.5 billion, its highest annual level. Analysts say that calms investors and indicates the country has the wherewithal to withstand economic shocks from the global crisis. Brazilian shares also tracked those in Asia and Europe, where gains were seen.

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