Wednesday, March 31, 2010

Trader's Highlight

DJI-NEW YORK, March 30 (Reuters) - U.S. stocks rose in a slow session on Tuesday on data showing more stabilization in the economy, while Apple Inc rallied on a report that it was developing a new iPhone.

With the S&P 500 <.SPX> now up 73.4 percent from the March 2009 bottom and on track for a fourth straight quarterly gain, investors chose to lock in profits, with financials taking the brunt of the selling.

The Dow Jones industrial average <.DJI> edged up 11.56 points, or 0.11 percent, to end at 10,907.42, not far below the 11,000 mark. The Standard & Poor's 500 Index <.SPX> added just 0.05 of a point, or 0.00 percent, to 1,173.27. The Nasdaq Composite Index <.IXIC> rose 6.33 points, or 0.26 percent, to close at 2,410.69.

NYMEX-NEW YORK, March 30 (Reuters) - U.S. crude oil futures rose slightly in post-settlement trading on Tuesday, after industry data showed a much smaller-than-expected increase in crude stocks last week.

Heating oil and gasoline futures edged up, as data from the American Petroleum Institute showed that distillate and gasoline supplies fell, but by less than analysts had forecast.

On the New York Mercantile Exchange at 5 p.m. EDT (2100 GMT), May crude was up 44 cents at $82.61 a barrel. It had settled up 20 cents, or 0.24 percent, at $82.37, trading from $81.77 to $82.74.

CBOT-CHICAGO, March 30 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - May up 6-1/2 cents at $9.74 per bushel. Nearby May leads the way up on shrinking U.S. soy supplies and concern about labor unrest in Argentina. May/November widened 5-1/2 cents and May/November closed at 42-1/2 cents, premium May.

CBOT-SOYOIL - May down 0.60 cent at 38.67 cents per lb. Pressured by talk that China may take steps to restrict imports on soyoil.

FCPO-KUALA LUMPUR, March 30 (Reuters) - Malaysian crude palm oil futures rose 1 percent on Tuesday, recovering from seven-week lows on stronger crude oil prices.
Traders said the palm oil market, which has lost 4.4 percent so far this year, could rebound as it has been oversold for many days.

The benchmark June crude palm oil contract on the Bursa Malaysia Derivatives Exchange gained 25 ringgit to settle at 2,545 ringgit ($779.5) after going as low as 2,501 ringgit -- a level unseen since Feb 5. Overall traded volume surged to 19,557 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, March 30 (Reuters) - Thai stocks rose on Tuesday, turning round after three days of losses as investors bought energy shares as oil firmed, but Malaysia ended flat, shrugging off the prime minister's promise of economic reforms.

Other major markets in the region were little changed, with Singapore edging up 0.15 percent and Indonesia inching up 0.13 percent. Bucking the trend, Vietnam <.VNI> fell nearly 1 percent.

Malaysia's index <.KLSE> was flat even though Prime Minister Najib Razak unveiled long-promised economic reforms on Tuesday, with plans to reduce race-based programmes in what he described as a "bold transformation". A lack of detail prompted scepticism.

In Singapore, Singapore Telecoms fell 0.3 percent while Wilmar International rose 1.5 percent.