Monday, November 2, 2009

Trader's Highlight

DJI-NEW YORK, Oct 30 (Reuters) - The Dow industrials suffered its worst slide since July on Friday on concerns that the economic recovery won't be robust enough to sustain the seven-month stock rally, while financials sank on renewed worries about Citigroup's balance sheet.

The Dow Jones industrial average <.DJI> slid 249.85 points, or 2.51 percent, to end at 9,712.73. The Standard & Poor's 500 Index <.SPX> tumbled 29.92 points, or 2.81 percent, to 1,036.19. The Nasdaq Composite Index <.IXIC> dropped 52.44 points, or 2.50 percent, to close at 2,045.11.

NYMEX-NEW YORK, Oct 30 (Reuters) - U.S. crude oil futures ended down on Friday, as lower consumer spending and faltering confidence over the economic recovery raised fresh worries about demand for oil.

On the New York Mercantile Exchange, December crude settled down $2.87, or 3.59 percent, at $77.00 a barrel, trading trading from $76.85 to $80.21. For the week, prices are down $3.50, or 4.34 percent. For the month, they are up $6.39,
or 9.05 percent.

CBOT-SOYBEANS - November down 7-1/2 cents at $9.78 per bushel; January down 10-1/2 cents at $9.76-1/2. Sagging along with drop in crude oil prices after strong move higher on Thursday. Also pressured by forecasts for better weather next week that should speed the US soybean harvest.

CBOT-SOYOIL - December down 1.02 cents at 36.50 cents per lb. Lower in sympathy with soybeans and weaker crude oil.

FCPO-KUALA LUMPUR, Oct 30 (Reuters) - Malaysian crude palm oil futures inched up 0.9 percent on Friday, recovering some earlier losses, although slightly weaker markets and prospects of high stocks curbed gains.

The benchmark January palm oil contract on the Bursa Malaysia Derivatives Exchange ended up 19 ringgit to 2,208 ringgit ($647.5).

REGIONAL EQUITIES-BANGKOK, Oct 30 (Reuters) - Most Southeast Asian stock markets gained ground on Friday, with banks reversing recent losses in Singapore and Malaysia while Indocement and Indofood led gainers in a rebound in Jakarta.

Sentiment in the region turned cautious in the afternoon session and late selling pulled markets down from the day's
highs.

Dealers said investors were waiting for interest rate decisions next week by the U.S. Federal Reserve, Bank of England and European Central Bank, but the mood remains positive overall.

Singapore's index <.FTSTI> ended up 0.7 percent after an early gain of almost 2 percent and Malaysia's index <.KLSE> inched up 0.12 percent,

Malaysia's index was 3.4 percent higher in October, Southeast Asia's second best performer after the Philippines' 3.8 percent rise.