Thursday, July 10, 2008

Trader's Highlight

DJI-NEW YORK, July 9 (Reuters) - Credit jitters swept Wall Street again on Wednesday and pushed a key market index back into bear territory as financial shares tumbled and the appeal of safe-haven government debt took a shine. The Dow Jones industrial average <.DJI> closed down 237.26 points, or 2.08 percent, at 11,146.95. The Standard & Poor's 500 Index <.SPX> fell 29.03 points, or 2.28 percent, at 1,244.67. The Nasdaq Composite Index <.IXIC> dropped 59.55 points, or 2.60 percent, at 2,234.89.

NYMEX-NEW YORK, July 9 (Reuters) - U.S. crude oil futures ended little changed on Wednesday as government data showed that a large drawdown in crude supplies last week was concentrated on the West Coast, which has little impact on futures prices.In the early going, rising tensions in the Middle East weighed on the dollar and that helped lift crude futures.On the New York Mercantile Exchange, August crude settled up a cent, or 0.01 percent, at $136.05 a barrel, trading from $135.90 to $138.91.

CBOT-CHICAGO, July 9 (Reuters) - Chicago Board of Trade grains and soy complex closing prices on Wednesday.

SOYBEANS - July up 17 cents at $15.78 per bushel, new-crop November up 27-1/2 at $15.57. Expectations for USDA to cut its new-crop soy ending stocks estimate in monthly crop report Friday remains supportive.

SOYOIL - July up 0.40 cent at 63.78 cents per lb.Technical bounce after sharp decline this week; bounce in soybeans and crude oil support.

FCPO-KUALA LUMPUR, July 9 (Reuters) - Malaysian crude palm oil futures rose 1.8 percent onWednesday, snapping a four-day losing streak as resurgent crude oil prices brightened global vegetable oil markets.The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled up 61 ringgit at 3,515 ringgit ($1,084) per tonne.

Regional equities-SINGAPORE, July 9 (Reuters) - Most Southeast Asian stock markets rose on Wednesday as gains on Wall Street and a recoil in oil prices lifted stocks such as Singapore Exchange and Malaysian casino operator Genting .

Malaysia <.KLSE> rose 1.7 percent, the Philippine index<.PSI> gained 1.3 percent, while Singapore <.FTSTI> was up 1.1 percent.Vietnam <.VNI> closed 0.7 percent higher to resume an
uptrend, while Indonesia <.JKSE> inched 0.3 percent higher.Thailand <.SETI> was off just 0.2 percent, despite heightened political tensions.