Monday, April 12, 2010

Trader's Highlight

DJI-NEW YORK, April 9 (Reuters) - U.S. stocks rose on Friday with the Dow surpassing 11,000 for the first time in a year-and-a-half after Chevron's upbeat outlook and wholesale inventories data reinforced bets on an improving economy.

The S&P energy sector <.GSPE>, up 1.1 percent, led the market's advance. Chevron Corp climbed 2.4 percent to $79.50 a day after it said its refining and marketing arm would return to profit in the first quarter.

The Dow Jones industrial average <.DJI> gained 70.28 points, or 0.64 percent, to end at 10,997.35. The Standard & Poor's 500 Index <.SPX> rose 7.93 points, or 0.67 percent, to 1,194.37. The Nasdaq Composite Index <.IXIC> added 17.24 points, or 0.71 percent, to 2,454.05.

NYMEX-NEW YORK, April 9 (Reuters) - U.S. crude oil futures ended lower for a third consecutive session on Friday, as concerns about demand, high inventories and technical weakness combined to push oil lower.

Trading seesawed as hopes for a rescue solution for debt-laden Greece strengthened the euro against the dollar -- usually a bullish scenario for oil -- while a ratings agency downgrade of Greece's credit ratings sparked concern about oil demand.

On the New York Mercantile Exchange, May crude fell 47 cents, or 0.55 percent, to settle at $84.92 a barrel, trading from $84.12 to $86.37.

CBOT-CHICAGO, April 9 (Reuters) - Chicago Board of Trade grains and soy complex close on Friday.

CBOT-SOYBEANS - May up 5-3/4 cents at $9.52-1/4 a bushel; November down 1 at $9.36-1/2. Lower-than-expected U.S. soy ending stocks figure in USDA's April report viewed supportive, along with weaker dollar.

CBOT-SOYOIL - May up 0.12 cent at 40.04 cents per lb. Following soybeans despite weak crude oil market.

FCPO-KUALA LUMPUR, April 9 (Reuters) - Malaysia crude palm oil futures closed broadly higher on Friday ahead of a key industry report on Monday which traders said will likely show a drop in the country's palm oil inventory.

At the close, the benchmark June contract jumped 3.8 percent to 2,594 ringgit ($810.9) per tonne and the May contract added 1.3 percent to close at 2,553.

Overall traded volume stood at 16,708 lots of 25 tonnes each -- sharply higher than the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, April 9 (Reuters) - Thai stocks ended 0.7 percent higher on Friday, recouping losses after prominent emerging market fund manager Mark Mobius recommended the market, while Indonesia fell after investors took profits on bank stocks.

Other Southeast Asian markets extended gains because of optimism over the region's economic growth and the earnings prospects of listed companies.

Singapore <.FTSTI> ended up 0.3 percent, Malaysia <.KLSE> inched up 0.08 percent and Vietnam <.VNI>, the region's smallest market, rose 0.29 percent.