Wednesday, November 25, 2009

Trader's Highlight

DJI-NEW YORK, Nov 24 (Reuters) - U.S. stocks fell on Tuesday on lackluster economic data in a session marked by low volume and choppy trading, but losses eased after the Federal Reserve raised its expectations for growth in 2010.

Stocks fell early in the session as revised government data on gross domestic product showed the U.S. economy grew at a slower-than-expected pace in the third quarter.

The U.S. stock market will be closed on Thursday in observance of Thanksgiving Day. On Friday, it will be open for only half a day due to the holiday.

The Dow Jones industrial average <.DJI> dropped 17.24 points, or 0.16 percent, to end at 10,433.71. The Standard & Poor's 500 Index <.SPX> inched down just 0.59 of a point, or 0.05 percent, to 1,105.65. The Nasdaq Composite Index <.IXIC> fell 6.83 points, or 0.31 percent, to 2,169.18.

NYMEX-NEW YORK, Nov 24 (Reuters) - U.S. crude oil futures ended lower on Tuesday on a report showing third-quarter economic growth was less than estimated earlier and on expectations that crude oil inventories rose last week.

The U.S. Energy Information Administration's inventory report is due at 10:30 a.m. EST (1530 GMT) on Wednesday.

On the New York Mercantile Exchange, January crude fell $1.54, or 1.99 percent, to settle at $76.02 a barrel, trading from $75.60 to $77.80. Globex electronic trading after settlement and the API data release ended at $75.84 a barrel, down $1.72, with the range unchanged.

CBOT-SOYBEANS - January up 4 cents at $10.46 a bushel. Strong export demand and slowdown in harvest help limit pressure from weak corn and crude oil.

CBOT-SOYOIL - December up 0.30 cent at 39.70 cents per lb. Rallying despite declines in crude oil.

FCPO-KUALA LUMPUR, Nov 24 (Reuters) - Malaysian crude palm oil futures ended 0.3 percent lower on Tuesday, easing from a 14-week high hit the previous day, on weaker commodity markets.

The benchmark February contract on the Bursa Malaysia Derivatives Exchange closed down 8 ringgit to 2,478 ringgit ($731.4) after going as low as 2,430 ringgit earlier.

REGIONAL EQUITIES-BANGKOK, Nov 24 (Reuters) - Southeast Asian stock markets
ended mixed on Tuesday, with Singapore reversing early gains to 15-month highs after broad selling in banks and property while Thai stocks fell to three-week lows amid political concerns.

Singapore's index <.FTSTI> eased 0.6 percent, with DBS Group , Southeast Asia's biggest bank, sliding 2.4 percent, United Overseas Bank easing 1.6 percent and Oversea-Chinese Banking Corp off 2.1 percent.

Malaysia <.KLSE> inched down 0.1 percent, with telecoms firm Maxis easing 2.3 percent while IOI Corp added 1 percent before it announced after the market close that its quarterly net profit jumped 65 percent.