Friday, May 15, 2009

Trader's Highlight

DJI-NEW YORK, May 14 (Reuters) - U.S. stocks rose on Thursday as investors returned to financial and technology shares on bets the recent rally could have more room to grow after a brief pullback.

The Dow Jones industrial average <.DJI> added 46.43 points, or 0.56 percent, to 8,331.32. The Standard & Poor's 500 Index <.SPX> gained 9.15 points, or 1.04 percent, to 893.07. The Nasdaq Composite Index <.IXIC> climbed 25.02 points, or 1.50
percent, to 1,689.21.

Data showed the number of U.S. workers filing new claims for jobless benefits rose more than expected in the latest week, pushed up by plant shutdowns related to Chrysler's bankruptcy.

NYMEX-NEW YORK, May 14 (Reuters) - U.S. crude oil futures ended higher on Thursday as U.S. and European equities rose on hopes that a global recession may have bottomed, outweighing worries arising from a further downward revision by the International Energy Agency of its 2009 oil demand forecast.

On the New York Mercantile Exchange, June crude settled up 60 cents, or 1.03 percent, at $58.62 a barrel, trading from $56.55 to $59. Tuesday's $60.08 intraday peak was the highest since $62.28 was hit on Nov. 11.

CBOT-SOYBEANS - May expired up 16 cents at $11.66. July up 19-1/2 at $11.47-1/2.

Rallied to 7-1/2 month high as big export sales of U.S. soy and dwindling supplies continue to boost soybean futures in addition to support from low soy yields in drought-stricken South America,

NOPA April soybean crushings 134.115 million bushels versus March 137.257 million and above average estimate for 132.1 million.

CBOT-SOYOIL - May expired down 0.30 cent at 38.60. July down 0.32 at 38.84.

Pressured by big soyoil stocks in NOPA's April crush report, meal/soyoil spreading and lower crude oil market.

NOPA April soyoil stocks 2.710 billion lbs versus March 2.593 billion.

FCPO-KUALA LUMPUR, May 14 (Reuters) - Malaysian palm futures fell 3.8 percent on Thursday, retreating from a nine-month top hit the previous day, as investors booked profits on fears that palm oil would outpace soyoil prices due to supply concerns.

The benchmark July contract settled down 105 ringgit at 2,684 ringgit ($757.1) per tonne. Overall volume jumped to 17,659 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, May 14 (Reuters) - Singapore shares hit a one-week
low on Thursday, leading other Southeast Asian bourses lower in a market unsure about the global recovery, and Thailand ended an eight-day winning streak after MSCI cut its investment weighting.

Singapore's index <.FTSTI> closed down 2.9 percent at 2122.11, its lowest since May 6. Thailand's SET index <.SETI> dropped 4.7 percent, erasing part of a 16.9 percent surge over the past eight days. Malaysia <.KLSE> and Indonesia <.JKSE> ended at their lowest since May 6, falling 1.1 percent and 3.6 percent respectively.