Friday, January 29, 2010

Trader's Highlight

DJI-NEW YORK, Jan 28 (Reuters) - U.S. stocks dropped on Thursday as poor outlooks from Motorola and Qualcomm dented optimism in the technology sector while worries about Greece's fiscal health dragged on sentiment.

Qualcomm Inc shares tumbled 14.2 percent to $40.48 and Motorola Inc slid 12.4 percent to $6.48 after both companies' earnings and outlooks fell short of expectations.

NYMEX-NEW YORK, Jan 28 (Reuters) - U.S. crude futures ended lower for the third consecutive session on Thursday, pressured by sliding equities and persistent demand worries. U.S. stocks fell on lean profit growth outlooks for two bellwether technology shares and jitters over a global economic recovery.

On the New York Mercantile Exchange, March crude settled down 3 cents, or 0.04 percent, at $73.64 a barrel, trading from $72.93 to $74.49.

CBOT-CHICAGO, Jan 28 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - March up 2-3/4 cents at $9.31-3/4 bushel. Ends firm on short-covering bounce after the fall on Wednesday to a 3-1/2 month low.

CBOT-SOYOIL - March down 0.17 cent at 36.15 cents per lb. Pressured by weak tone in crude oil.

FCPO-JAKARTA, Jan 28 (Reuters) - Malaysian crude palm oil futures rose 0.9 percent on Thursday along with other markets after U.S. President Barack Obama's promises to boost U.S. jobs and the economy.
However, the combination of ample global vegetable oils supplies and slowing demand may keep a lid on prices and prevent further gains, they said.

REGIONAL EQUITIES-BANGKOK, Jan 28 (Reuters) - Stock markets in Singapore and Indonesia gained about 2 percent on Thursday as positive news from the United States lifted the mood and investors turned their attention to quarterly results.

Sentiment in financial stocks improved after U.S. President Barack Obama toned down his rhetoric against big U.S. banks and confidence was helped by the U.S. Federal Reserve's pledge to keep interest rates near zero for "an extended period".

Singapore's Straits Times Index <.FTSTI> closed up 1.9 percent, after falling for six days to its lowest since Nov. 13. Top lender DBS Group Holdings rose 2.3 percent while commodity share Olam International was up 3.4 percent.

Malaysia <.KLSE> and Thailand <.SETI> lost early gains and closed down 0.1 percent. The Philippines <.PSI> rose 1.4 percent but Vietnam <.VNI> fell for a second day, losing 1 percent.