Thursday, December 3, 2009

Trader's Highlight

DJI-NEW YORK, Dec 2 (Reuters) - The Nasdaq rose on Wednesday as strong online holiday sales boosted shares of retailers, including Amazon.com , and relieved some concerns about the consumer.

The Dow edged lower as falling oil prices prompted investors to sell energy shares, while the Standard & Poor's index finished flat.

The Dow Jones industrial average <.DJI> declined 18.90 points, or 0.18 percent, to end at 10,452.68. The Standard & Poor's 500 Index <.SPX> inched up just 0.38 of a point, or 0.03 percent, to finish at 1,109.24. The Nasdaq Composite Index <.IXIC> gained 9.22 points, or 0.42 percent, to close at 2,185.03.

NYMEX
-NEW YORK, Dec 2 (Reuters) - U.S. crude oil futures ended more than 2 percent lower on Wednesday, stemming a two-day advance, as government data showed domestic crude inventories rose far more than expected last week.

On the New York Mercantile Exchange, January crude settled down $1.77, or 2.26 percent, at $76.60 a barrel, trading from $76.22 to $78.59.

CBOT-SOYBEANS - January down 25-1/2 cents at $10.34 per bushel. Profit-taking after the rally to three-month high early on Tuesday weighing on soybean futures, with additional pressure from firm dollar, weak crude oil and commercial hedge selling.

CBOT-SOYOIL - December down 0.83 at 39.75 cents per lb, January down 0.81 at 40.11. Pressure from weak soybeans and lower crude oil.

FCPO-KUALA LUMPUR, Dec 2 (Reuters) - Malaysian crude palm oil futures were steady on Wednesday as traders waited for top analysts at an Indonesian industry conference to forecast the direction of the market.

The benchmark February contract on the Bursa Malaysia Derivatives Exchange ended down 6 ringgit at 2,489 ringgit ($737.9).

Traded volumes shot up to 13,568 lots of 25 tonnes each, from the usual 10,000 lots, as dealers were switching to the March contract, which will become the benchmark contract in less than two weeks.

REGIONAL EQUITIES-BANGKOK, Dec 2 (Reuters) - Southeast Asian stock markets were
mostly higher on Wednesday, extending gains as concern about Dubai's debt woes eased, but Thailand fell after a court lifted the suspension of only some plants at a huge industrial estate.

Singapore's benchmark stock index <.FTSTI> rose 0.9 percent, building on Tuesday's 1.4 percent gain, while Indonesia <.JKSE> rose 0.8 pecent to its highest in a week and Malaysia <.KLSE> inched up 0.4 percent.

Gains in Singapore were buoyed by banks, with DBS Group Holdings , Southeast Asia's top lender, climbing 1.3 percent and United Overseas Bank 1.7 percent higher.

Standard & Poor's Ratings Services said that its counterparty credit ratings on DBS Bank Ltd. were not affected by the bank's announcement of its credit exposure to Dubai.

Malaysian shares rose for the second day, supported by top lender Maybank , up 0.3 percent, and smaller Public Bank Bhd , up 0.7 percent, after the central bank chief said Malaysian banks had limited exposure to Dubai.