Saturday, July 12, 2008

Trader's highlight

DJI- NEW YORK, July 11 (Reuters) - U.S. stocks tumbled on Friday as fears about the stability of the top two home financing providers Freddie Mac and Fannie Mae, combined with oil at a record above $147, clouded the economic outlook. The Dow Jones industrial average <.DJI> fell 128.48 points, or 1.14 percent, to 11,100.54. For the week, the Dow dropped 1.7 percent, its fourth straight weekly decline. The Standard & Poor's 500 Index <.SPX> slid 13.90 points, or 1.11 percent, to 1,239.49. For the week, it fell 1.9 percent. The Nasdaq Composite Index <.IXIC> dropped 18.77 points, or 0.83 percent, to 2,239.08. It shed 0.3 percent for the week.

NYMEX- NEW YORK, July 11 (Reuters) - U.S. crude oil futures ended more than 2 percent higher on Friday as geopolitical and supply worries combined to lift prices to an all-time high. August crude settled up $3.43, or 2.42 percent, at $145.08 a barrel, trading from $141.44 to an intraday record of $147.27, eclipsing the previous NYMEX high of of $145.85 hit July 3.

CBOT- July 11 (Reuters)-SOYBEANS- July up 21 cents at $16.30-1/2 per bushel, new-crop November up 9 at $15.96. Turned up in choppy, volatile trade. Favorable U.S. crop weather limits advances. USDA's July supply/demand report viewed bullish, with tight ending stocks.

SOYOIL- July up 0.03 cent per lb at 64.48 cents per lb. Supported by higher crude oil and rally in soybeans.

Regional equities- SINGAPORE, July 11 (Reuters) - Most Southeast Asian markets ended higher on Friday, reassured by a report that the U.S. government may bail out two troubled U.S. mortgage firms, lifting financials such as Malaysia's Public Bank and Singapore's OCBC Bank. Malaysia <.KLSE> rose 1.3 percent on Friday after its premier said he would hand over power by 2010, while Singapore <.FTSTI> edged 0.9 percent up, and Vietnam <.VNI> surged 2.3 percent to post a gain of nearly 4 percent this week. But battered Thai stocks <.SETI> hit their lowest this week since January, conceding 1.9 percent from a week ago despite a 1.2 percent gain on Friday. Indonesia <.JKSE> was also 1.9 percent lower on the week, while the Philippine index <.PSI> slipped half a percent on Friday, but gained 3 percent from a week ago.

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