Tuesday, April 14, 2009

Trader's Highlight

DJI-NEW YORK, April 13 (Reuters) - The S&P 500 and Nasdaq rose on Monday as bets that major banks will post reassuring quarterly results fueled a run-up in financials, offsetting uneasiness about the fate of General Motors .

After the bell, Goldman Sachs , surprised investors by posting stronger-than-expected quarterly results a day early, and announced a $5 billion public offering of common equity.

The Dow Jones industrial average <.DJI> fell 25.57 points, or 0.32 percent, to 8,057.81. The Standard & Poor's 500 Index <.SPX> gained 2.17 points, or 0.25 percent, to 858.73. The Nasdaq Composite Index <.IXIC> rose just 0.77 of a point, or
0.05 percent, to 1,653.31.

NYMEX-NEW YORK, April 13 (Reuters) - U.S. crude oil futures ended sharply lower on Monday, giving up a big chunk of Thursday's nearly 6 percent rise in reaction to the International Energy Agency's lower 2009 global demand forecast and as Wall Street
slumped.

On the New York Mercantile Exchange, May crude settled down $2.19, or 4.19 percent, at $50.05 a barrel, trading from $48.84 to $52.15.

NOPA crush report to be released early on Tuesday.

CBOT-SOYBEANS - May up 14-1/2 cents at $10.21-1/2 per bushel.

Follow-through support from Thursday's bullish USDA supply/demand report showing a shrinking supply of U.S. soy this year as U.S. soy exports remain brisk.

CBOT-SOYOIL - May up 0.64 cent per lb. at 36.06 cents per lb.
Up with soy and gains overnight in Malaysian palm oil futures amid falling stocks and increasing exports.

FCPO-JAKARTA, April 13 (Reuters) - Malaysian palm futures rose 1.6 percent on Monday on signs of tighter stocks, but were off intraday peaks after touching a fresh 7-month high as investors locked in profits from a recent rally, traders said.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange hit an intraday high of 2,385 ringgit, the strongest since Sept. 23 last year. The contract settled up 36 ringgit to 2,335 ringgit ($654.49) per tonne.

Other traded months rose between 43 and 85 ringgit, except for the May contract, which fell 10 ringgit. <0#KPO:>. Overall volume was at 14,825 lots of 25 tonnes each.

REGIONAL EQUITIES
-SINGAPORE, April 13 (Reuters)-The Kuala Lumpur Composite Index <.KLSE> ended flat while Philippine shares <.PSI> fell 1.43 percent. The Thailand Stock Exchange is closed for a three-day holiday due to a festival and
will resume trading on Thursday.

Elsewhere in the region, Singapore's Straits Times Index <.FTSTI> ended 2.64 percent higher and Vietnam's index finished 4.6 percent stronger.

Jakarta stocks rallied to a six-month high on Monday, buoyed by peaceful parliamentary elections that resulted in strong gains for the political party
led by President Susilo Bambang Yudhoyono.