Monday, September 15, 2008

Trader's Highlight

DJI-NEW YORK, Sept 12 - U.S. stocks ended little changed on Friday as uncertainty about what shape or form an intervention to resolve the Lehman Brothers debacle fueled caution among investors. Investors braced for possible weekend developments in the saga of the troubled U.S. investment bank. Shares of natural resource companies and utilities gained as commodity prices rose, offsetting losses among financial and bank shares.

Based on the latest available data, the Dow Jones industrial average lost 11.72 points, or 0.10 percent, to end unofficially at 11,421.99. The Standard & Poor's 500 Index climbed 2.65 points, or 0.21 percent, to close unofficially at 1,251.70.

NYMEX-NEW YORK, Sept 14 - U.S. crude oil futures fell below $100 a barrel to their lowest in more than six months on Sunday as traders bet Hurricane Ike did less damage to the nation's energy infrastructure than initially feared.

On the New York Mercantile Exchange at 2:40 p.m. EDT (1840 GMT), October crude was down $2.12, or 2.1 percent, at $99.06 per barrel, trading from $98.55 to $101.19.

CBOT-SOYBEANS
- September expired $2.74 higher at $14.90 a bushel; November up 26 cents at $12.02.

Support from USDA's smaller U.S. soy crop estimate. Front-month September spiked ahead of its expiration on strong cash markets and short-covering in thin volume.

SOYOIL - September expired 0.15 cent higher at 47.15 cents per lb; October up 0.39 at 47.51 cents.

Support from soybeans and USDA's lower soyoil ending stocks estimate. Crude oil lends early support, then retreats.

FCPO-JAKARTA, Sept 12 - Malaysian crude palm oil futures rose more than 3 percent on Friday lifted by firmer crude oil and soybean oil prices, and as traders tried to cover their short positions following recent sell-offs, dealers said.

The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose 71 ringgit or 3.07 percent to 2,380 ringgit a tonne. Overall volume reached 15,421 lots of 25 tonnes.

Regional Equities-SINGAPORE, Sept 12 - Singapore shares rose 1.16 percent, off near two-year lows on Friday, as investors bought battered property stocks like CapitaLand, but a weak rupiah pushed Indonesian stocks to a near 18-month low.

Singapore's Straits Times Index ended at 2,570.67 points, and Indonesian stocks dropped 3.5 percent to a level last seen in March 2007.