Tuesday, August 18, 2009

Trader's Highlight

DJI-NEW YORK, Aug 17 (Reuters) - Oil slid and global stocks fell sharply on Monday after weak Japanese data and last week's poor U.S. consumer confidence data sparked doubts about a U.S. recovery and prompted investors to cut their exposure to risk.

Asian, European and U.S. stock markets fell to lows last seen in July as equities tumbled 2.0 percent or more around the world, and Wall Street suffered its worst loss in 7 weeks.

The Dow, S&P 500 and Nasdaq stock gauges posted their biggest single-day percentage declines since at least July 2.

The Dow Jones industrial average <.DJI> dropped 186.06 points, or 2 percent, to end at 9,135.34. The Standard & Poor's 500 Index <.SPX> was down 24.36 points, or 2.43 percent, at 979.73. The Nasdaq Composite Index <.IXIC> was down 54.68 points, or 2.75 percent, at 1,930.84.

NYMEX-NEW YORK, Aug 17 (Reuters) - U.S. crude oil futures ended at their lowest level in more than two weeks on Monday as Wall Street tumbled amid worries about global economic recovery.

On the New York Mercantile Exchange, September crude settled down 76 cents, or 1.13 percent, at $66.75, the lowest settlement since July 29's $63.35. It traded from $65.23 to $67.69. The intraday low was lowest since prices fell to $64.96 on July 31.

CBOT-SOYBEANS - September down 36-1/2 cents at $9.88 a bushel; new-crop November down 27 at $9.54-1/2.

Excellent crop weather in the U.S. soy regions, firm dollar, falling equities and crude oil combine to weigh on soy futures. Market technically weak, with November slipping below key support of $9.80 during overnight session after Friday's big sell-off.

CBOT-SOYOIL - September down 1.31 cents per lb at 35.87 cents per lb. Pressured by falling soybeans, crude oil and Asian vegoils.

FCPO-KUALA LUMPUR, Aug 17 (Reuters) - Asian vegetable oil markets slumped on Monday on expectations of better global supplies this fall with U.S. soy set for a record large harvest and a sharp decline in crude oil prices.

Benchmark November palm oil futures on the Bursa Malaysia Derivatives Exchange fell as much as 4.5 percent to a 10-day low, despite market talk of tight inventories, thanks to faltering production and stronger Asian festival demand.

REGIONAL EQUITIES-BANGKOK, Aug 17 (Reuters) - Shares in Singapore and Thailand
tumbled more than 3 percent on Monday, leading other Southeast Asian bourses lower, with index heavyweights such as DBS Group, Singapore Telecoms, PTT and PTT Exploration among big losers.

Singapore's index <.FTSTI> fell 3.3 percent to its lowest since Aug. 7, with top lender DBS down 2.5 percent, Singapore Telecommunications losing 3.1 percent and developer CapitaLand off 3.8 percent.

Malaysia <.KLSE> fell 1.6 percent to its lowest since Aug. 3, the Philippine index <.PSI> dropped 2.8 percent to its lowest since July 30 and Vietnam's <.VNI> fell 1.4 percent, ending a five-day gain.