Tuesday, April 7, 2009

Trader's Highlight

DJI-NEW YORK, April 6 (Reuters) - U.S. stocks broke a four-day winning streak on Monday after a prominent analyst revived worries over the health of banks and the potential collapse of a takeover of Sun Microsystems bruised sentiment in the
technology sector.

The Dow Jones industrial average <.DJI> fell 41.74 points, or 0.52 percent, to 7,975.85. The Standard & Poor's 500 Index <.SPX> lost 7.02 points, or 0.83 percent, to 835.48. The Nasdaq Composite Index <.IXIC> was down 15.16 points, or 0.93 percent, at 1,606.71.

Billionaire investor George Soros, meanwhile, told Reuters the U.S. economy was in for "a lasting slowdown" and that it wouldn't recover in 2009. He also said the "banking system as a whole is basically insolvent."

NYMEX-NEW YORK, April 6 (Reuters) - U.S. crude oil futures ended sharply lower on Monday, giving up early gains above $53 as Wall Street tumbled amid renewed worries about the banking industry.

Traders were cautious ahead of U.S. weekly inventory reports due in the next two days. A preliminary Reuters poll showed forecasts for a 2.1-million-barrel build in crude stocks last week, while refined product supplies fell.

On the New York Mercantile Exchange, May crude settled down $1.46, or 2.78 percent, at $51.05 a barrel, after trading from $49.81 to $53.60.

CBOT-SOYBEANS - May down 1-1/2 cents at $9.94 per bushel.

Down following U.S. stock market and crude oil with profit-taking after Friday's rally also weighing on prices. Underpinned by reports of low soy yields in the South American.

CBOT-SOYOIL - May down 0.33 cent at 34.99 cents per lb. Sag in crude oil weighed on prices.

FCPO-JAKARTA, April 6 (Reuters) - Malaysian crude palm oil futures closed lower on Monday, ending a four-day rally, as investors took profits after the benchmark contract hit a fresh intraday high of more than six months, traders said.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange dropped 20 ringgit, or 0.9 percent, to 2,145 ringgit ($603.38) per tonne, after going as high as 2,196 ringgit, a fresh intraday high in more than six months.

Other traded months dropped between 25 and 35 ringgit. <0#KPO:>. Overall volume was at 11,808 lots of 25 tonnes each.

REGIONAL EQUITIES-SINGAPORE, April 6 (Reuters) - Southeast Asian stock markets
extended gains on Monday as rising optimism from investors on the recovery of the global economy lifted banks, energy and commodities stocks.

Singapore's Straits Time Index <.FTSTI> finished 1.5 percent higher to 1,847.98 points, extending its 12-week high, while Kuala Lumpur's benchmark index <.KLSE> jumped 1.85 percent higher to 923.77 points.