Friday, August 15, 2008

Trader's Highlight

DJI-NEW YORK, Aug 14 (Reuters) - U.S. stocks rose in thin trade on Thursday as another decline in the price of oil buoyed hopes that consumer spending will recover and financial shares bounced back from a sharp two-day sell-off.

The Dow Jones industrial average <.DJI> rose 82.97 points, or 0.72 percent, to 11,615.93, while the Standard & Poor's 500 Index <.SPX> climbed 7.10 points, or 0.55 percent, to 1,292.93. The Nasdaq Composite Index <.IXIC> was up 25.05 points, or 1.03 percent, at 2,453.67.

NYMEX-NEW YORK, Aug 14 (Reuters) - U.S. oil futures fell on Thursday as the dollar strengthened amid concerns about euro zone economic weakness and rising U.S. inflation.

On the New York Mercantile Exchange, September crude fell 99 cents, or 0.85 percent, to settle at $115.01 a barrel, trading from $112.59 to $117.42.

CBOT-SOYBEANS - September down 24-1/2 cents at $12.45-1/2 a bushel; new-crop November down 10 at $12.74. August expired 24-1/2 cents lower at $12.45-1/2.
Disappointing weekly export sales data and monthly crush reported by U.S. industry group weighing on prices. Tight 2007/08 and 2008/09 U.S. ending stocks underpin prices.

National Oilseed Processors Association said its members crushed 133.034 million bushels of soybeans in July, below estimates for 136.5-142.2 million.

SOYOIL - September down 0.35 cent at 52.12 cents per lb. August expired 1.04 cents per lb lower at 51.25 cents per lb. Profit-taking, following soybeans. Daily trading limit
expanded to 3.5 cents.

NOPA U.S. July soyoil stocks 2.367 billion lbs, down from 2.449 billion in June and within trade expectations for a 60-100 million lb drop.

FCPO-KUALA LUMPUR, Aug 14 (Reuters) - Malaysian crude palm oil futures soared as much as 4.2 percent on Thursday, recovering from 10-month lows as gains in crude oil seeped into vegetable oils markets, dealers said.

The benchmark October contract on the Bursa Malaysia Derivatives Exchange rose as high as 108 ringgit or 4.2 percent to 2,656 ringgit ($798) a tonne. The contract then settled up 72 ringgit at 2,620 ringgit.

REGIONAL EQUITIES-SINGAPORE, Aug 14 (Reuters) - Most Southeast Asian stock markets edged higher on Thursday, as stronger crude prices bolstered resource-related shares but inflation worries weighed on banks and property shares.

Jakarta <.JKSE> gained 2.1 percent on a rebound in resource shares, while Thailand <.SETI> climbed 0.6 percent on energy.Singapore <.FSTI> and the Philippines <.PSI> edged 0.2 percent up, while Malaysia <.KLSE> dipped 0.3 percent on banks.