Friday, April 24, 2009

Trader's Highlight

DJI-NEW YORK, April 23 (Reuters) - U.S. stocks rose in volatile trade on Thursday as better-than-expected results from several regional banks lifted financial shares,
overshadowing disappointing economic data and anemic outlooks from economic bellwethers like United Parcel Service.

But investors wrestled with the possibility that the federal government's "stress tests" on 19 major U.S. banks may reveal weaknesses, which created volatility throughout the session. The government is set to unveil results on May 4.

The Dow Jones industrial average <.DJI> gained 70.49 points, or 0.89 percent, to 7,957.06. The Standard & Poor's 500 Index <.SPX> rose 8.37 points, or 0.99 percent, to 851.92. The Nasdaq Composite Index <.IXIC> added 6.09 points, or 0.37 percent, to 1,652.21.

NYMEX-NEW YORK, April 23 (Reuters) - U.S. crude oil futures ended higher on Thursday as Wall Street climbed back up and the weakened dollar attracted investors' money to commodities such as oil.

On the New York Mercantile Exchange, June crude settled up 77 cents, or 1.58 percent, at $49.62 a barrel, trading from $48.37 to $49.92.

CBOT-SOYBEANS - May down 8-1/4 cents per bushel at $10.37-3/4 per bushel.

Profit-taking and corn/soy spreading weighed on soybean futures in late dealings. Wet weather in the Midwest led to ideas for lower corn acreage and higher soybean acreage.

U.S. Census Bureau said U.S. soy crush in March 144.66 million bushels, above average estimate for 144.2 million.

CBOT-SOYOIL - May up 0.11 cent per lb at 36.20 cents per lb. Following higher palm oil futures.

U.S. Census Bureau said U.S. soyoil stocks at the end of March 3.064 billion lbs, below average estimate for 3.110 billion.

FCPO-JAKARTA, April 23 (Reuters) - Malaysian crude palm oil futures rose 4.2 percent on Thursday to its highest finishing in eight and a half months, fuelled by escalating fears over supply tightness, traders said.

The benchmark July contract on the Bursa Malaysia Derivatives Exchange rose 105 ringgit to 2,580 ringgit ($712.70), the strongest closing level since August 29.

Other traded months rose between 15 and 98, except for the August contract, which fell 90 ringgit. <0#KPO:> Overall volume was more than triple the usual level at 33,490 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, April 23 (Reuters) - Southeast Asian shares ended mixed on Thursday, unsettled by worries over the banking sector and corporate earnings, but Singapore and Thailand snapped recent falls, helped by appetite for commodity-linked shares.

Thai stocks <.SETI> led advancers, rising 1.2 percent. Malaysia <.KLSE>, Southeast Asia's second-best performer this year after Indonesia, climbed 1.04 percent but Vietnamese stocks <.VNI> lost 2.07 percent.