Tuesday, February 9, 2010

Trader's Highlight

DJI-NEW YORK, Feb 8 (Reuters) - The Dow industrials closed below 10,000 for the first time since November on Monday as investors sold bank shares due to heightened concerns about the euro zone's sovereign debt troubles.

Bank of America shares lost more than 3 percent, while JPMorgan slipped 1.6 percent, and Citigroup shed 2.2 percent.

NYMEX-NEW YORK, Feb 8 (Reuters) - U.S. crude futures rose almost 1 percent on Monday as cold weather, a weaker dollar and jitters over geopolitical risks combined to snap a three-session losing streak.

It was an "inside day" for crude futures, a trading pattern in which session highs and lows are within the previous session's range.

On the New York Mercantile Exchange, March crude settled up 70 cents, or 0.98 percent, at $71.89 a barrel, trading from $70.77 to $72.39.

CBOT-CHICAGO, Feb 8 (Reuters) - Chicago Board of Trade grains and soy complex close on Monday.

CBOT-SOYBEANS - March up 16 cents at $9.29-1/2 a bushel. Rallied to 1-1/2 week high on short-covering amid oversold technicals ahead of USDA's February supply/demand report on Tuesday. Weak dollar and firm crude oil also lend support.

CBOT-SOYOIL - March up 0.95 cents at 37.95 cents per lb. Technical bounce and following soy and crude oil. Expectations of increased soyoil use for biodiesel under U.S. renewable fuel plan add support.

FCPO-JAKARTA, Feb 8 (Reuters) - Malaysian palm oil futures rose as much as 1.7 percent to a four-week intraday high before finishing slightly off the high, underpinned by a rebound in crude oil and rival soy prices, traders said.

REGIONAL EQUITIES-COLOMBO, Feb 8 (Reuters) - Major Southeast Asian stock
markets fell on Monday due to growing worries over the euro zone's debt problems and the prospect of further turbulence on world markets, but Singapore bucked the trend.

At a weekend meeting, European ministers tried to reassure their counterparts in the Group of Seven that the euro zone's debt crisis was under control and that Greece would stick to its budget-cutting plan.

Malaysia <.KLSE> lost 1 percent to hit a three-month low, Indonesia <.JKSE> eased 1.72 percent, hitting a six-week low, and the Philippines <.PSI> fell 0.3 percent to its lowest close since Sept. 23.

But Singapore's Straits Times Index <.FTSTI> gained 0.4 percent -- recovering from a three-month low after falling 1 percent during the session -- led by a 1.7 percent gain in Singapore Telecom and 1.6 percent in bank DBS .