Friday, November 13, 2009

Trader's Highlight

DJI-NEW YORK, Nov 12 (Reuters) - The Dow industrials six-day winning streak came to a halt on Thursday as a drop in oil prices pulled energy stocks lower and a guarded outlook from Wal-Mart fanned worries about consumer spending.

Stocks were also undermined by a U.S. dollar rally, as its safe-haven appeal rose after several policymakers around the world warned the economic recovery was fragile.

The Dow Jones industrial average <.DJI> fell 93.79 points, or 0.91 percent, to 10,197.47. The Standard & Poor's 500 Index <.SPX> dropped 11.27 points, or 1.03 percent, to 1,087.24. The Nasdaq Composite Index <.IXIC> lost 17.88 points, or 0.83
percent, to 2,149.02.

NYMEX-NEW YORK, Nov 12 (Reuters) - U.S. crude futures settled nearly 3 percent lower on Thursday as government data confirmed an industry report earlier this week that domestic crude and refined product inventories rose last week.

On the New York Mercantile Exchange, December crude settled down $2.34, or 2.95 percent, at $76.94 a barrel, trading from $76.56 to $79.69.

CBOT-SOYBEANS - November up 18-1/2 cents per bushel at $9.82-1/4. January up 18 at $9.90.

Support from news China bought U.S. soy, forecasts for rains in the U.S. next week that may hurt final soy harvest in the Delta/Southeast, soy/corn spreading and surging soymeal.

CBOT-SOYOIL - December unchanged at 38.37. Pressure from lower crude oil and meal/oil spreading.

FCPO-KUALA LUMPUR, Nov 12 (Reuters) - Malaysian crude palm oil futures ended up 0.5 percent on Thursday due to fears that rainy weather would hit production this month.

The benchmark January contract on Bursa Malaysia Derivatives Exchange settled 10 ringgit up at 2,245 ringgit ($663.4) after going as high as 2,277 ringgit.

REGIONAL EQUITIES-BANGKOK, Nov 12 (Reuters) - Major Southeast Asian stock markets elsewhere were taking a breather after a recent rally, with Singapore's index <.FTSTI> dropping 0.5 percent after climbing for over four days, while Malaysia <.KLSE> inched up 0.1 percent.

In Singapore, Wilmar International fell 2 percent, paring early gains after the world's largest listed palm oil firm said it was optimistic about prospects for the rest of this year after a one-off gain helped it post a better-than-expected 35 percent rise in quarterly profit.

In Kuala Lumpur, palm plantation firm Sime Darby gained 0.1 percent in response to higher Malaysian crude palm oil futures. Malayan Banking fell 0.2 percent before the top lender announced that its first-quarter net profit had risen by more than half as the rebound in Asian economies boosted
fee-based income and its loan book.