Friday, March 5, 2010

Trader's Highlight

DJI-NEW YORK, March 4 (Reuters) - U.S. stocks rose on Thursday as better-than-expected monthly sales from retailers and a drop in the number of Americans filing claims for jobless benefits pointed to stabilization in the economy.

The boost from February retail sales, which were expected to have been hurt by the severe weather across the United States, lifted retailers' shares as the S&P retail index <.RLX> added 1.3 percent.

The Dow Jones industrial average <.DJI> gained 47.38 points, or 0.46 percent, to 10,444.14. The Standard & Poor's 500 Index <.SPX> rose 4.18 points, or 0.37 percent, to 1,122.97. The Nasdaq Composite Index <.IXIC> added 11.63 points, or 0.51 percent, to close at 2,292.31.

NYMEX-NEW YORK, March 4 (Reuters) - U.S. crude oil futures ended lower on Thursday, easing from a seven-week high hit Wednesday, as the dollar rebounded and downbeat home sales data overshadowed positive economic reports of the day.

The unexpected fall in January sales of previously owned homes outweighed other data showing a rise in February retail sales, a big jump in factory orders in January and a drop in weekly first-time jobless benefit claims.

On the New York Mercantile Exchange, April crude closed down 66 cents, or 0.82percent, at $80.21 a barrel, trading from $79.70 to $81.09.

CBOT-CHICAGO, March 4 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - CBOT March soybeans down 22 cents at $9.32-1/2 a bushel, May down 21-1/2 at $9.42. Most-active May falls to near-two-week low and was the largest one day decline in nearly two months on a firm dollar, lower crude oil, along with pressure from the expanding harvest of a likely record-large South American soybean crop and May ended below all key moving averages.

CBOT-SOYOIL - CBOT March soyoil down 0.39 cent at 39.63 cents per lb, May down 0.40 at 40.00 cents. Weak crude oil and lower soybean futures weigh on soyoil.

REGIONAL EQUITIES-BANGKOK, March 4 (Reuters) - Most Southeast Asian stock markets dipped on Thursday, nervously following U.S. stock index futures down a day ahead of U.S. job data for February.

A recent rally in the main Thai index <.SETI> ended as big energy firms such as PTT and PTT Chemical traded ex-dividend, pushing the market down 0.57 percent, but foreigners continued to buy, taking a net 1.3 billion baht ($40 million) of stock.

In Singapore, Wilmar International dropped 2.7 percent to S$6.49 after broker Citi lowered its target price for the world's largest palm oil producer to S$6.32, factoring in a revision to earnings and the latest net debt position.

In Kuala Lumpur, financial AMMB Holdings was down 2.2 percent and Petronas slid 3.2 percent.