Tuesday, August 11, 2009

Trader's Highlight

DJI-NEW YORK, Aug 10 (Reuters) - U.S. stocks fell on Monday as investors booked profits following a four-week rally that took the broad S&P 500 index to a 10-month high on Friday.

The decline comes ahead of a plethora of economic data due this week, including the Federal Reserve's statement on interest rates and the state of the economy, as well as government figures for monthly retail sales.

The Dow Jones industrial average <.DJI> dropped 50.56points, or 0.54 percent, to 9,319.51. The Standard & Poor's 500 Index <.SPX> fell 5.88 points, or 0.58 percent, to 1,004.60. The Nasdaq Composite Index <.IXIC> lost 12.65 points, or 0.63 percent, to 1,987.60.

NYMEX-NEW YORK, Aug 10 (Reuters) - U.S. crude oil futures ended lower on Monday in choppy trading, weighed by Wall Street's dip on profit-taking after a four-week rally.

On the New York Mercantile Exchange, September crude settled down 33 cents, or 0.47 percent, at $70.60 a barrel, trading from $70.09 to $71.57.

CBOT-SOYBEANS - August down 14 cents per bushel at $11.70-1/2. New-crop November down 28-1/2 cents per bushel at $10.10.

Weighed down by long-liquidation and profit-taking before the release on Wednesday of USDA's August crop and supply/demand reports.

CBOT-SOYOIL - August down 0.29 cent per lb at 36.49. Spillover pressure from falling soy in positioning, long-liquidation and profit-taking.

FCPO
-JAKARTA, Aug 10 (Reuters) - Malaysian palm oil futures rose 2.6 percent to their highest close in near eight weeks on Monday as investors shrugged off poor early-August exports and focused on lower palm oil stocks in July, a bullish factor for prices, traders said. Palm prices correlate inversely with palm oil stocks.

Crude palm oil stocks at the world's number 2 producer fell 5.67 percent to 1,328,440 tonnes from a revised 1,408,317 tonnes in June, the Malaysian Palm Oil Board (MPOB) said, beating market expectations for a 3.7 percent fall to 1.35 million tonnes.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange settled up 60 ringgit to 2,400 ringgit ($685.32), a level last seen on June 16.

REGIONAL EQUITIES-BANGKOK, Aug 10 (Reuters) - Indonesia's bourse <.JKSE> rose 1.7 percent on Monday as favourable quarterly GDP data bolstered buying of big-cap shares such as Bumi Resources and Astra Agro, but shares in Malaysia and Thailand mostly lost early gains.

Malaysia's index <.KLSE> edged up 0.3 percent, Thailand's <.SETI> inched down 0.07 percent, the Philippine index <.PSI> rose 2.4 percent and Vietnam's <.VNI> climbed 2.2 percent. In Kuala Lumpur, gainers were led by a 1.3 percent rise in Axiata Group and a 0.5 percent gain in KL Kepong while Malayan Banking lost 0.3 percent.