Thursday, March 12, 2009

Trader's Highlight

DJI - NEW YORK, March 11 - U.S. stocks rose for a second day on Wednesday after JP Morgan Chase's chief executive said his bank was profitable in January and February,
echoing comments by Citigroup's CEO a day earlier.

The Dow Jones industrial average gained 3.91 points, or 0.06 percent, to 6,930.40. The Standard & Poor's 500 Index added 1.76 points, or 0.24 percent, to 721.36. The Nasdaq Composite Index rose 13.36 points, or 0.98 percent, to 1,371.64.

NYMEX - NEW YORK, March 11 - U.S. crude futures ended more than 7 percent lower on Wednesday, down for a second day in a row after government data showed a modest though larger-than-expected inventory rise last week.

On the New York Mercantile Exchange, April crude settled down $3.38, or 7.39 percent, at $42.33 a barrel, trading from $42.08, lowest since March 4's $41.04, to $46.04.

CBOT - SOYBEANS - March down 14 cents at $8.75 per bushel.
Weighed down by fund selling, late weakness in the Dow and falling crude oil.

CBOT - SOYOIL - March down 1.08 cents at 29.64 cents per lb.
Pressure from falling crude oil, late weakness in the Dow and by a big soyoil stocks number in USDA's supply/demand report.

FCPO
- JAKARTA, March 11 - Malaysian crude palm oil futures edged lower on Wednesday, coming off a fresh 9-week high as investors locked in profit amid concerns over the outlook for prices, traders said.

The benchmark May contract on the Bursa Malaysia Derivatives Exchange fell 15 ringgit, or 0.8 percent, to 1,980 ringgit ($538) per tonne, after hitting a high of 2,026 ringgit.

REGIONAL EQUITIES
- BANGKOK, March 11 - Stock markets in Singapore and Indonesia rose for a second day on Wednesday after some positive news from the U.S. financial sector helped push up big-cap banks including Singapore's DBS and Indonesia's Bank Mandiri.

Hopes that Citigroup would deliver a first-quarterprofit sparked an improvement in investor confidence.

Singapore's benchmark Straits Times Index rose 1.3 percent, earlier touching its highest in nearly a week, led by DBS Group, the region's biggest bank, which climbed 2.2 percent after a 4.7 percent gain on Tuesday.