Tuesday, May 12, 2009

Trader's Highlight

DJI-NEW YORK, May 11 (Reuters) - U.S. stocks fell on Monday as investors booked profits in financials after a two-month run-up and news of several banks' share offerings heightened worries about their dilutive impact on current shareholders.

The Dow Jones industrial average <.DJI> shed 155.88 points, or 1.82 percent, to 8,418.77. The Standard & Poor's 500 Index <.SPX> declined 19.99 points, or 2.15 percent, to 909.24. The Nasdaq Composite Index <.IXIC> dipped 7.76 points, or 0.45 percent, to 1,731.24.

NYMEX-NEW YORK, May 11 (Reuters) - U.S. crude futures ended lower Monday, as players booked profits after prices hit a near six-month high on Friday.

On the New York Mercantile Exchange, June crude settled down 13 cents, or 0.22 percent, at $58.50 a barrel, trading $56.78 to $58.63. It settled Friday at $58.63, the highest close since Nov. 11, and hit a high of $58.75, the highest intraday price since $58.98 was struck on Nov. 17.

CBOT-SOYBEANS
- May down 4 cents at $11.30 a bushel, July up 4-1/2 cents at $11.16.

Profit-taking after last week's rally to seven-month highs amid lower crude oil and equity markets but soy began moving up when crude started to recover from the day's lows. Tight soy stocks boosted all but spot May, which is in delivery, higher. Traders watching Chinese demand for soybeans

Trade expecting USDA late on Monday to peg U.S. soybean seedings at 15 to 20 percent, below the five-year average of 25 percent.

CBOT-SOYOIL
- May down 0.02 cent at 39.28 cents a lb, July down 0.03 cent at 39.58 cents.

Spillover pressure from weak crude oil but market ended above day's lows when crude oil began moving up from the session lows.

FCPO-KUALA LUMPUR, May 11 (Reuters) - Malaysian palm futures dipped 0.9 percent on Monday, erasing gains made earlier in the day as investors booked profits on confirmation that palm stocks last month fell below 1.3 million tonnes.

The benchmark July contract settled down 25 ringgit at 2,660 ringgit ($757.8) per tonne after going as high as 2,745 ringgit per tonne in the morning session. Overall volume doubled to 20,202 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, May 11 (Reuters) - Major Southeast Asian stock markets lost early gains on Monday, with selling in bank shares and big caps pulling Singapore down for a second day and Indonesia falling after losses in recent gainers such as Astra International.

Singapore's index <.FTSTI> fell 3.2 percent, after inching down 0.15 percent on Friday, as investors unloaded more banking shares and other big caps.

Top lender DBS Group dropped 5.6 percent, Oversea Chinese Banking Corp lost 5.7 percent and United Overseas Bank slid 5 percent. Singapore Telecoms fell 4.9 percent, after losing 0.7 percent on Friday.