Monday, October 5, 2009

Trader's Highlight

DJI-NEW YORK, Oct 2 (Reuters) - U.S. stocks fell for the fourth straight day on Friday as weak jobs data gave more evidence the economic recovery would be less robust than expected. The much bigger-than-forecast drop in September non-farm payrolls and a decline in factory orders pulled down economically sensitive sectors like industrials and energy.

The Dow Jones industrial average <.DJI> fell 21.61 points, or 0.23 percent, to close at 9,487.67. The Standard & Poor's 500 Index <.SPX> dropped 4.64 points, or 0.45 percent, to 1,025.21. The Nasdaq Composite Index <.IXIC> lost 9.37 points, or 0.46 percent, to 2,048.11.

NYMEX-NEW YORK, Oct 2 (Reuters) - U.S. crude oil futures settled more than 1 percent lower on Friday, as doubts over an economic recovery resurfaced after data showed that the U.S. unemployment rate had soared to a 26-year high.

On the New York Mercantile Exchange, November crude settled down 87 cents, or 1.23 percent, at $69.95 a barrel, trading from $68.32 to $70.69. From a week ago, NYMEX October crude rose $3.93, or 5.95

CBOT-SOYBEANS - November down 33 cents at $8.85 a bushel.

Early harvest of likely record U.S. soybean crop, diminished concerns about frost damage and weak crude oil pressuring soybean futures.

CBOT-SOYOIL - October down 0.52 cent at 33.73 cents per lb; December down 0.52 cent at 34.07. Pressure from falling soybeans and weak crude oil.

FCPO-KUALA LUMPUR, Oct 2 (Reuters) - Malaysia's crude palm oil futures tumbled as much as 4.1 percent on Friday when traders triggered selling orders after the market breached a key support level.

There was no fresh news but weaker U.S. crude oil helped spur the selling. Traders say palm oil's fundamentals are not reflected in the benchmark December contract , which is the lowest since July 16.

The contract fell as much as 87 ringgit to 2,028 ringgit ($583.3) before settling at 2,036 ringgit. Trade volumes were at 9,451 lots of 25 tonnes each, just a touch below the usual 10,000 lots traded.

REGIONAL EQUITIES-BANGKOK, Oct 2 (Reuters) - Singapore stocks slid nearly two
percent on Friday, leading losses across Southeast Asia following disappointing U.S. economic data.

Sentiment turned cautious after Wall Street suffered its worst one-day fall in three months on renewed fears about the durability of the economic recovery.

Singapore's Straits Times Index <.FTSTI> dropped nearly two percent to its lowest since Sept. 4. DBS Group Holdings , Southeast Asia's biggest lender, slid 1.8 percent and Singapore Telecommunications lost 2 percent.

Malaysia's index <.KLSE> inched down 0.2 percent, Thailand <.SETI> slid 0.3 percent and Indonesia's index <.JKSE> ended flat, reversing a 1.8 percent fall earlier.