Tuesday, November 4, 2008

Trader's Highlight

DJI-NEW YORK, Nov 3 (Reuters) - U.S. stocks ended little changed on Monday as investors picked up bargains on signs of further thawing in credit markets, but were unwilling to place big bets before the presidential election.

Cautious investors stayed on the sidelines as they were reluctant to buy equities in significant amounts ahead of an election that could play a role in the market's direction in the years ahead.

The Dow Jones industrial average <.DJI> edged down 5.18 points, or 0.06 percent, to 9,319.83. The Standard & Poor's 500 Index <.SPX> was off 2.45 points, or 0.25 percent, at 966.30. The Nasdaq Composite Index <.IXIC> added 5.38 points, or 0.31 percent, to 1,726.33.

NYMEX-NEW YORK, Nov 3 (Reuters) - U.S. crude futures ended nearly $4 a barrel lower on Monday, driven lower by more worries about oil demand as signs of a slowing global economy increased and as gasoline futures slid to a fresh 21-month low.

The dollar's bounce off lows against the euro and OPEC beginning to implement its latest production cut of 1.5 million barrels per day also pressured crude futures.

On the New York Mercantile Exchange, December crude settled down $3.90, or 5.75 percent, at $63.91 a barrel, trading from $63.63 to $69.19.

CBOT-SOYBEANS
- November up 3 cents at $9.28-1/4 per bushel; January up 4-1/2 cents at $9.37-1/2.

Strong weekly export inspections data lifted futures, underscoring recent Chinese demand. Firm cash markets added support as U.S. farmers remain reluctant sellers.

CBOT-SOYOIL - December up 1.14 cent at 34.74 cents per lb. Soy products gained against soybeans as crush spreads corrected from Friday's close. Following limit -up moves in palm oil <0#KPO:> and Dalian soyoil <0#DBY>.

FCPO-KUALA LUMPUR, Nov 3 (Reuters) - Asian vegetable oil prices soared on Monday, taking their cues from crude oil which gained on improved financial markets.

However, traders said the scenario remained weak amid sluggish demand and a build-up in vegetable oil stock levels as the global economy slows. Malaysian crude palm oil futures <0#KPO:> hit 10 percent limit up at a near two-week high towards the end of the session,

The benchmark January palm contract on Bursa Malaysia's Derivatives Exchange jumped as much as 10 percent ringgit to 1,666 ringgit ($473.6), a level unseen since Oct 21.

Regional Equities-BANGKOK, Nov 3 (Reuters) - Southeast Asia stocks ended near two-week highs on Monday, with Jakarta and Bangkok jumping more than 7 percent after benign inflation data and hopes of interest rate cuts.

The Thai main stock index <.SETI> rose 7.8 percent. Jakarta's main stock index <.JKSE> gained 7.6 percent. Singapore stocks <.FTSTI> ended up 5.0 percent, Malaysia
<.KLSE> rose 4.1 percent, Vietnam stocks <.VNI> edged up 0.5 percent and Philippines stocks <.PSI> gained 3.8 percent.