Wednesday, December 24, 2008

Trader's Highlight

DJI-NEW YORK, Dec 23 (Reuters) - U.S. stocks fell in thin trading on Tuesday on further deterioration in the housing market, while worry over weak consumer spending hurt retailers in the final stretch of the Christmas shopping season.

The Dow Jones industrial average <.DJI> lost 100.28 points, or 1.18 percent, to 8,419.49. The Standard & Poor's 500 Index <.SPX> slid 8.47 points, or 0.97 percent, to 863.16. The Nasdaq Composite Index <.IXIC> shed 10.81 points, or 0.71
percent, to 1,521.54. Markets will close early on Wednesday for Christmas Eve.

NYMEX-NEW YORK, Dec 23 (Reuters) - U.S. crude futures fell on Tuesday as concerns about falling demand in a weak economy continued to weigh on oil prices.

Trading was volatile as early lift from a weak dollar evaporated and weak economic data kept fears about sliding demand in a recession economy in focus.

On the New York Mercantile Exchange, February crude fell 93 cents, or 2.33 percent, to settle at $38.98 a barrel, trading from $37.79, a contract low, to $40.65.

CBOT-SOYBEANS - January up 14-1/2 cents at $9.01 a bushel. Market rallies to $9.00 strike price in January options. Concerns about dryness in South America and strong cash markets amid slow farmer sales and good export business with China underpinning soy market.

U.S. November soybean crush was 144.64 million bushels, according to Census Department data. Analysts had been expecting crushings between 145.5 and 146.5 million bushels.

CBOT-SOYOIL - January up 0.27 cent at 31.21 cents per lb. Choppy in thin holiday-type trade. Weakness in crude weighs.

November soyoil stocks were 2.562 billion pounds, Census said.

FCPO-KUALA LUMPUR, Dec 23 (Reuters) - Malaysian crude palm oil futures fell 3.6 percent on Tuesday, extending midday losses as the market tracked declines in other vegetable oils and crude prices hovered below $40 a barrel.

The benchmark March 2009 contract on Bursa Malaysia's Derivatives Exchange fell 58 ringgit to 1,530 Malaysia ringgit ($441.8) per tonne. Falls in other traded months <0#KPO:> ranged between 45 ringgit and 58 ringgit. Overall trade fell to 8,722 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Dec 23 (Reuters) - Most Southeast Asian stock markets fell on Tuesday amid signs of a deepening economic slump and as investors locked in profits ahead of the year-end holidays.

Singapore's benchmark Straits Time Index <.FTSTI> fell 1.2 percent to its lowest close since Dec. 5, with DBS Group , Southeast Asia's largest bank, slipping 3.5 percent and palm oil giant Wilmar sliding 5.8 percent.

Indonesia's main stock index <.JKSE> drifted 0.12 percent lower at the close after earlier touching 1,323.49 points, its lowest since Dec. 15.

Malaysia's main stock index <.KLSE> fell for a third day, down 0.3 percent, as palm plantation firm Kuala Lumpur Kepong dropped 2.2 percent and energy services firm KNM Group lost 3.7 percent.