Wednesday, September 24, 2008

Trader's Highlight

DJI-NEW YORK, Sept 23 (Reuters) - U.S. stocks fell on Tuesday on fear that congressional wrangling could delay a proposed $700 billion plan to rescue the financial sector, increasing worries about the struggling U.S. economy.

But index futures surged in extended trading after Warren Buffett's Berkshire Hathaway surprised investors with a $5 billion investment in Goldman Sachs Group.

The Dow Jones industrial average <.DJI> fell 161.52 points, or 1.47 percent, to end at 10,854.17. The Standard & Poor's 500 Index <.SPX> slid 18.87 points, or 1.56 percent, to 1,188.22. The Nasdaq Composite Index <.IXIC> dropped 25.64 points, or 1.18 percent, to 2,153.34.

NYMEX
-NEW YORK, Sept 23 (Reuters) - U.S. crude oil futures fell on Tuesday as the dollar rebounded and as gasoline futures fell amid concerns about demand and a slowing economy as Washington looked at a proposal to bail out the financial sector.
On the New York Mercantile Exchange, November crude fell $2.76, or 2.52 percent, to settle at $106.61 a barrel, trading from $104.05 to $109.58.

CBOT-SOYBEANS - November down 18 cents at $11.87 per bushel, January down 18-1/4 at $12.03-3/4.

Profit-taking after Monday's strong rally, led by declines in crude oil and gold. Markets remain on edge after U.S.government announced a planned $700 billion bailout of financial companies.

SOYOIL - October down 1.81 cents at 47.74 cents per lb.Profit-taking and pressure from weak crude oil. Meal/oil spreading adds pressure.

FCPO-KUALA LUMPUR, Sept 23 (Reuters) - Malaysian crude palm oil futures fell as much 2.9 percent on Tuesday, erasing some of the week's gains as weaker crude oil prices spilled over to vegetable oil amid fears of slowing overseas demand.

The benchmark December contract on the Bursa Malaysia Derivatives Exchange settled down 39 ringgit at 2,305 ringgit ($676) per tonne after falling to an inter-session low of 2,277 ringgit.