Friday, August 14, 2009

Trader's Highlight

DJI-NEW YORK, Aug 13 (Reuters) - U.S. stocks rose on Thursday as better-than-expected earnings by Wal-Mart Stores Inc helped offset disappointing government numbers on retail sales and jobs.

Shares of Wal-Mart, the world's largest retailer, gained 2.7 percent to $51.88 following its second-quarter earnings and its outlook for the full year.

The Dow Jones industrial average <.DJI> rose 36.58 points, or 0.39 percent, to 9,398.19. The Standard & Poor's 500 Index <.SPX> gained 6.92 points, or 0.69 percent, to 1,012.73. The Nasdaq Composite Index <.IXIC> added 10.63 points, or 0.53
percent, to 2,009.35.

NYMEX-NEW YORK, Aug 13 (Reuters) - U.S. crude oil futures ended higher but well below the session peaks, tracking Wall Street, where major indexes sagged late as the day's economic data raised investor concerns about the pace of recovery.

Crude futures were up earlier on Wall Street's gains and on news of a surprise return to economic growth in Germany and France.

On the New York Mercantile Exchange, September crude settled up 36 cents, or 0.51 percent, at $70.52 a barrel, trading from $70.05 to $72.21.

CBOT-SOYBEANS
- August down 28-3/4 cents at $11.87-1/4 a bushel; new-crop November down 25-1/4 cents at $10.18-3/4.

Fell 2 percent on profit-taking, good U.S. crop weather and unwinding of soy/corn spreads. Rallied to six-week high in early dealings, then plunged as August contract volatile ahead of expiration on Friday.

Demand for nearby soy stays hot, with exporter paying top premiums to meet commitments while processor margins slip.

NOPA July US soybean crush to be released on Friday and analyst average estimate is for 130.4 million bushels, compared with NOPA June soy crush 133.1 million.

CBOT-SOYOIL
- August down 0.93 cent at 37.54 cents per lb. Big supply of soyoil weighs.

FCPO-JAKARTA, Aug 13 (Reuters) - Malaysian palm oil futures rebounded more than 2 percent on Thursday as investors covered short positions on expectations of lower production this month and a recovery in crude oil, traders said.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange ended up 55 ringgit, or 2.24 percent at 2,515 ringgit ($716.52) a tonne after going as high as 2,521 ringgit. Overall volume was 20,657 lots of 25 tonnes each, more than double the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 13 (Reuters) - Singapore's stock market climbed
to its highest in a week on Thursday as earnings optimism pushed big caps such as City Developments higher, and other Southeast Asian bourses surged, palm plantation stocks leading the way.

Singapore's Straits Times Index <.FTSTI> ended up 1.7 percent at 2,614.18, with City Developments , Southeast Asia's number-two developer, pushed up 1.9 percent by its positive outlook despite a 15 percent fall in quarterly profit.

Shares in Wilmar International surged 7 percent following a jump in palm oil prices this week. Golden Agri-Resources added 7.4 percent and Indofood Agri-Resources 5.6 percent.

Even so, Malaysia's IOI Corp rose 1.6 percent, Thailand's United Palm Oil gained 4 percent and Indonesia's Astra Agro Lestari rose 2.5 percent.

Malaysia's index <.KLSE> was up 0.5 percent, Thailand's <.SETI> gained nearly 2 percent to its highest since last September, Indonesia's index <.JKSE> rose 2.1 percent, the Philippine index <.PSI> rose 1 percent and Vietnam's <.VNI> 1.3 percent.