Wednesday, October 15, 2008

Trader's Highlight

DJI-NEW YORK, Oct 14 (Reuters) - U.S. stocks fell on Tuesday as fears that the global economy may not avert recession slammed shares of technology and consumer companies, eclipsing a government rescue plan for banks.

A day after the Dow leaped 936.42 points in its biggest one-day point gain ever, investors looked past the U.S. pledge to pour $250 billion into major banks and instead focused on the dismal outlook for earnings and the economy.

The Dow Jones industrial average <.DJI> was down 76.62 points, or 0.82 percent, at 9,310.99. The Standard & Poor's 500 Index <.SPX> was down 5.34 points, or 0.53 percent, at 998.01. The Nasdaq Composite Index <.IXIC> was down 65.24 points, or 3.54 percent, at 1,779.01.

NYMEX-NEW YORK, Oct 14 (Reuters) - U.S. crude futures ended more than $2 per barrel lower on Tuesday on concerns that the economy is slipping into recession.

Crude futures fell as equities markets retreated after gaining 11 percent on Monday as a massive bank rescue package failed to ease concerns over corporate profits, also seen as an indicator of potentially weaker demand for energy products.

On the New York Mercantile Exchange, November crude settled down $2.56, or 3.15 percent, at $78.63 a barrel, trading between $78.31 and $84.83.

CBOT-SOYBEANS - November down 32 cents at $8.96 per bushel, January down 32-1/4 at $9.11-1/4.

Following downturn in stock market and crude oil. NOPA crush data was bearish.
NOPA pegs U.S. September soy crush at 120.376 million bushels, below average trade estimate for 122 million.

CBOT-SOYOIL
- October expired down 0.50 cent at 38.40 cents per lb. December down 1.21 at 38.00.Turned down as crude oil retreated and stock market sagged.

FCPO-JAKARTA, Oct 14 (Reuters) - Malaysian palm futures finished up 0.82 percent on Tuesday, extending a rebound from a day earlier, but off their best amid concerns that the demand outlook remains weak, traders said.

The benchmark December contract on the Bursa Malaysia Derivatives Exchange rose 15 ringgit, or 0.82 percent, to 1,850 ringgit a tonne, coming off a high of 1,902 ringgit earlier.

REGIONAL EQUITIES-SINGAPORE, Oct 14 (Reuters) - Southeast Asian markets rallied
strongly on Tuesday as investors banked on concerted government efforts worldwide to ease the fast-spreading financial crisis, but analysts warned the rebound could be a bear market bounce.

The Philippine index <.PSI> surged 7.3 percent and Indonesian shares <.JKSE> rose 6.4 percent, leading gains in the region.Thai stocks <.SETI> jumped 5.2 percent on double-digit gains in banks, while Singapore <.FTSTI> closed 2.5 percent higher but
well off early highs